M-PESA will expand financial services for consumers in the DRC Products & Services

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M-PESA is expanding financial services for consumers in the DRC

Vodacom has announced a new launch M-Pesa Rallonge overdraft services in the Democratic Republic of Congo. The offer is available to customers with premium accounts who make frequent transactions M-PESA.

M-Pesa Rallonge and purpose M-PESA customers with insufficient funds to sell and send money, enabling them to apply for instant withdrawals between CDF 50,000 (£19.76/€22.96) and CDF 100,000,”subject to interest and penalties for breach of terms and conditions“. Some funds are not currently available.

The M-The PESA program was launched in the DRC at the end of 2021 and financial support and French. The rollout was led by Mukudi (Vodafonewatch#200).

Vodacom also offers overdraft facilities in Lesotho (Fill it upKenya (), KenyaBlow it upand Tanzania (Move it), as part of the operator’s efforts to drive investment in the ‘new services’ sector – which includes digital solutions, fixed services, and consumer and IoT companies, as well as financial services – and its transition from ‘telco’ to ‘ TechCo’.

M-PESA, which has been operating across Africa since 2007, has seen steady growth in the DRC. According to Vodacom Group’s interim report for the six months to the end of September 2022, the number of m-money users reached more than 3.7 million, representing 17.4% has increased on last year. Similar adoptions are seen in other countries, including Lesotho, Mozambique, and Tanzania. M-PESA it was also recently expanded in Ethiopia, following a delayed implementation (vodafonewatch, #206 and #211).

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