Vodacom eyes growth in Africa’s remittances market
Plans include making the group’s mobile platform compatible with both external and internal players
Vodacom is looking to grow its cross-border mobile payments offering beyond consumers, to target businesses transacting across international lines.
“Traditionally, there’s a very large diaspora from Africa in the north, [in places such as] the US and the UK. What we have seen in the first phase of international remittance is a lot of the money flows coming from the north to the global south. But this has been peer-to-peer sort of transfers where money starts from, presumably, one relative to another in an African country,” Stephen Chege, Vodacom’s group chief regulatory and external affairs officer, told Business Day...
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