Safaricom to Launch M Pesa Junior Targeting Customers Below 18 Years as it Posts Sh77 billion Profit

M Pesa Junior; Safaricom has announced plans to launch an M-Pesa service that targets customers below 18 years.

Safaricom’s Chief Executive Officer, Peter Ndegwa, while announcing the 2021 full-year earnings, said M-Pesa junior will be launched in the course of 2022.

The telco saw its net profit (excluding Ethiopia) rebound to pre-Covid-19 levels, growing by 12.2 percent to Sh77 billion in the full year ended December 2021.

The telco’s mobile money platform M-Pesa continued to be the firm’s cash cow earning Sh107.7billion during the year.

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The platform handled transactions worth Sh29.5trillion during the year.

“We are proud of our strong performance that reflects our focus on solving customer issues and societal challenges,” said Safaricom CEO Peter Ndegwa.

Customer growth slowed down in the period due to the ongoing implementation of changes in the subscriber registration process.

Despite this, the firm’s one-month active customers grew by 4.3 percent to a 32.81million.

In total, Safaricom made Sh281 billion in revenue in the year from Sh250.4 billion recorded in 2020.

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