Vodafone plans to transform its M-Pesa African mobile payments service into a financial platform spanning the continent as it seeks to unlock the value of one of the world’s largest fintech networks.
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Vodafone targets Africa’s unbanked with ambitious plans for M-Pesa
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Nick Read, who took over as Vodafone chief executive in 2018, has laid the ground to separate the company’s huge tower business into an independent company, a move that has lifted the company’s flagging stock price by about 10 per cent. Analysts see M-Pesa, like the towers, as an under-exploited asset on Vodafone’s balance sheet. Shareholders attribute it little value because they regard it as a small part of a mature telecoms company rather than as a pioneering fintech business.
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