Why Vo­da­com M-Pesa has flopped in SA

Finweek English Edition - - THE WEEK -

SA’s ad­vanced bank­ing sec­tor, com­bined with a lack of de­mand, are key rea­sons why Vo­da­com’s mo­bile money prod­uct M-Pesa has failed in the lo­cal mar­ket, ac­cord­ing to Arthur Gold­stuck, manag­ing di­rec­tor of tech­nol­ogy re­search firm World Wide Worx. Vo­da­com re­cently an­nounced that it planned to shut down its South African M-Pesa prod­uct by the end of June due to lack of de­mand. It was launched lo­cally in 2010. At the time Vo­da­com aimed to reach 10m lo­cal users. How­ever, only 76 000 users had signed up by 2015. 09/05/2016 11:51

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