Vodacom Tanzania has started the disbursement of 4.9bn/- it's over 10 million M-Pesa users as a share of the profit accumulated on M-Pesa Trust Accounts.

These payments are expected to be completed by Wednesday by which time all subscribers will have received their share.

Vodacom Tanzania Director of M-Pesa Epimack Mbeteni said M-Pesa service continues to be a major foundation for their economic activities despite a number of challenges facing the industry.

"We are currently disbursing 4.9bn/- to our customers who have been using the platform during third quarter of this year, and the payments will go directly into their M-Pesa accounts," Mr Mbeteni said in a press statement.

The profit will be paid to individual customers, retail agents, and other M-Pesa business partners based on their M-Pesa wallet transactions between July to September.

Share of profit is dependent on the level of activity the user has had on M-Pesa for the said period.

Such activities include money transfers, bill payments, and airtime purchases to name a few.

Mr Mbeteni said the revolutionary mobile money platform has played a huge role in building inclusion and access to services in the country.

"M-Pesa has also been a key resource empowering small businesses to weather the difficulties caused by the Covid-19 pandemic," Mr Mbeteni said.

M-Pesa is the country's largest mobile financial service introduced by Vodacom in 2008.

Now GSMA certified and with over 10 million users, M-Pesa has significantly increased financial inclusion and economic activity in the country.

Customers deposit and withdraw money from their M-Pesa accounts through over 108,000 agents across the country.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English