Vodacom Unlocks M-Pesa for All: Financial Inclusion Takes a Giant Leap Forward

Vodacom Lesotho  has announced  a major expansion of its M-Pesa mobile money service, allowing all mobile users in the country to access the platform, regardless of their network provider.

This development dismantles previous network restrictions, empowering every person in Lesotho with a mobile phone to participate in the digital economy through M-Pesa’s comprehensive suite of services.

This initiative reaffirms Vodacom’s commitment to democratising financial services. Removing the previous requirement of being a Vodacom Lesotho subscriber ensures that the convenience, security and proven reliability of M-Pesa are accessible to a significantly larger segment of the population. This change eliminates a critical barrier to entry, enabling wider adoption of digital financial solutions without the need to switch mobile providers.

Speaking at the launch event held on Wednesday this week, Vodacom Lesotho’s Chief Executive Officer, Mohale Ralebitso, underscored the great potential of this expansion.

It is fitting that as M-Pesa matures into its teenage years, we are able to amplify its benefits to an even greater number of Basotho. Our vision is of an inclusive digital future for Lesotho and this expansion is a significant stride in that direction. Crucially, we plan to leverage M-Pesa’s credit scoring capabilities to extend financial inclusion further, reaching people who may not traditionally qualify for credit from conventional banks. This is the very essence of our commitment to transforming and empowering the lives of Basotho.

– Mohale Ralebitso, Chief Executive Officer, Vodacom Lesotho

Echoing Mr. Ralebitso’s enthusiasm, VCL Financial Services, Managing Director, Palesa Mphunyetsane, reinforced the dedication to breaking down barriers to financial inclusion.

To truly accelerate financial inclusion, we must actively eradicate any impediments to access. Since M-Pesa’s inception in 2013, we have been ardent advocates for universal financial access. Whilst this ‘All Access’ initiative is initially focused on smartphone users, we are already diligently working on solutions to ensure that Basotho without smartphones can also benefit from the life-changing power of M-Pesa in the not so distant future.

– Palesa Mphunyetsane, Managing Director, VCL Financial Services

Registering for M-Pesa is now easier than ever. New users can quickly and securely access the full power of M-Pesa through our user-friendly app on the Google Play Store. Then they should simply provide their mobile numbers, names as they appear on their National IDs and ID number and they’ll be ready to enjoy seamless mobile money services, from transfers and payments to banking and much more.

– Sebolelo Polasi, Digital Channels Manager, M-Pesa

Financial inclusion remains a critical driver of sustainable economic development. Providing Basotho with the fundamental tools to save, transact and access essential financial services is paramount to fostering economic participation and empowerment. Therefore, expanding access to M-Pesa, Vodacom Lesotho is directly contributing to the creation of a more robust, equitable and digitally enabled financial landscape in Lesotho.