M-Pesa diaspora cash inflows hit Sh13.1 billion

What you need to know:

  • It is eyeing a larger piece of the international remittances market that has been dominated by banks and international money transfer firms, some of whom it has partnered with.

International money transfers on Safaricom’s M-Pesa platform grew 64 per cent to Sh13.1 billion in the year ended March after the telco acquired a license from the Central Bank of Kenya (CBK) to offer outward cash remittances.

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