Vodacom to discontinue M-Pesa in South Africa
Speaking about the decision, Shameel Joosub, Vodacom Chief Executive Officer, says: “Vodacom’s decision is based on the fact that the business sustainability of M-Pesa is predicated on achieving a critical mass of users. Based on our revised projections and high levels of financial inclusion in South Africa there is little prospect of the M-Pesa product achieving this in its current format in the mid-term.”
In other markets where financial inclusion is limited and where there is a more supportive macro environment, M-Pesa continues to gain solid traction based on exponential growth in customer acquisition. Kenya and Tanzania are prime examples of this. It is important to note that this decision does not affect M-Pesa customers in Tanzania, Lesotho, Mozambique and the DRC, where the product continues to grow exponentially.
With regard to customers, Joosub says: “Vodacom is fully committed to mitigating any inconvenience to customers impacted by the decision and assures all M-Pesa South Africa customers that their funds remain safe and readily accessible. We remain of the opinion that opportunities exist in the Financial Services environment and we will continue to explore these.”
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Vodacom notice - Phishing
Vodacom has recently been made aware of some customers receiving fraudulent emails claiming to be from Vodacom and asking for updated contact information. The mails may even look authentic and contain the Vodacom logo and corporate colours.
Note: Vodacom won't ever ask for personal information over email.
These are scams commonly known as 'phishing' and all Vodacom customers should take note of the following before responding to an email from a site asking for personal information.
- Check that the email address and the sender name match.
- Hover over (but do not click) any links to check if the address matches the link that was typed in the message.
- Make sure that the email address or phone number listed in the email is the same as the one that should be on that company's records.
- Does the message start with a generic greeting, like "Dear customer." Most legitimate companies will include the recipient's name in their messages
If you suspect a phishing mail, contact our customer care by dialing 111 from your Vodacom handset. Alternatively, send us an email by completing the Scams & Hoax form.