M-PESA TURNS 18 SERVING OVER 70 MILLION USERS ACROSS THE GLOBE

Safaricom is celebrating its mobile financial service, M-PESA, turns 18 years old this month. Since its inception in March 2007, M-PESA has expanded its reach to over 170 countries worldwide, serving more than 70 million users. The platform has also grown to support over one million businesses and agents across Kenya, Ethiopia, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho, Ghana, and Egypt.

M-PESA’s Daraja platform now hosts more than 55,000 integrations and over 100,000 developers. With the capability to handle 4,000 transactions per second, the platform processes nearly 100 million transactions daily, solidifying its position as Africa’s leading fintech solution.

The success of M-PESA lies in its accessibility and universal appeal, enabling millions of users to conduct instant, secure, and reliable financial transactions through their mobile devices. To commemorate its 18th anniversary, M-PESA has initiated a series of nationwide activities designed to engage key stakeholders, including customers, investors, communities, technology partners, employees, regulators, and the media.

This campaign also aims to reinforce Safaricom’s dedication to providing a safe, secure, and worry-free financial ecosystem for its M-PESA users. “Over the past 18 years, M-PESA has revolutionized the lives of millions by offering accessible and affordable financial services. As smartphone adoption grows across the continent, we are transitioning into a digital financial services provider, connecting customers and businesses to opportunities and driving growth through our technology-driven solutions,” said Dr. Peter Ndegwa.

With the increasing adoption of smartphones and 3G/4G broadband, M-PESA is evolving into a comprehensive digital financial services provider. In 2021, M-PESA Africa introduced the M-PESA Super App, along with the M-PESA Business App, which allows businesses to operate virtual storefronts and offer services through M-PESA Mini apps.

Over the past two decades, M-PESA’s services have expanded significantly, contributing to financial inclusion and national economic development. As part of its 18th-anniversary celebrations, Safaricom has launched the Ziidi Investment platform, featuring the Ziidi Money Market Fund, which has already attracted over one million users. The platform is also set to introduce Shariah-compliant investment options to help customers grow their wealth. Ziidi leverages M-PESA’s convenience to provide a simple, fast, and intelligent way for users to invest and build their financial futures.

According to Esther Waititu, Safaricom’s Chief Financial Services Officer, the company is enhancing the M-PESA platform to support additional digital services, accelerate product development, and improve stability and reliability. “M-PESA’s future success will depend on its user-friendly design and seamless integration with other services, offering customers a full range of financial solutions at their fingertips. M-PESA is paving the way for the future of mobile financial services across Africa,” she stated.