M-Pesa, the mobile money service of Vodacom Group, has signed up around 240,000 in Lesotho since it was made available in the country less than three months ago, Balancing Act reports. Lesotho became M-Pesa’s fifth market at the start of July, following earlier launches in Tanzania, the Democratic Republic of Congo, Mozambique and South Africa. Commenting on the growth of the service in the country, Vodacom Lesotho managing director Ian Ferrao said: ‘Being a small country, word of mouth is incredibly powerful. Once we reached the tipping point, we’ve had to move fast to keep up. The first 30,000-40,000 were incredibly difficult. We had to send Vodacom staff out into each district. After that, it began to climb to its present level. As you would expect, growth is beginning to slow down.’ Vodacom Lesotho is the country’s largest mobile operator by subscribers, notes TeleGeography’s GlobalComms Database, with a total of 1.154 million customers at 30 June 2013, representing a market share of just over 80%.
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