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    Apple unveils new Mac Mini with M2 and M2 Pro for enhanced performance

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    High Court orders suspension of bank to MPesa charges

    High Court orders suspension of bank to MPesa charges

    Government announces plan to manufacture smartphones for under KES 5,000 by year-end

    Government announces plan to manufacture smartphones for under KES 5,000 by year-end

    Safaricom’s Fuliza subscribers can now withdraw their limit at MPesa agent shops

    Safaricom’s Fuliza subscribers can now withdraw their limit at MPesa agent shops

    Microsoft exploring integration of OpenAI’s GPT technology into Office apps

    Microsoft exploring integration of OpenAI’s GPT technology into Office apps

    YouTube to allow creators to monetize Shorts content starting February 1

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    Safaricom launches 5G Wi-Fi service, starts at KES 3,499

    Safaricom launches 5G Wi-Fi service, starts at KES 3,499

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    Complete list of Macs that will run macOS Ventura

    Complete list of Macs that will run macOS Ventura

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    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

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    Lenovo X1 Carbon 5th Generation Review: just good enough

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    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

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    Xiaomi Redmi A1+: Best budget smartphone in 2022?

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    All you need to know about the new iPhone 14 lineup

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Home News

M-Pesa tops 50 million monthly users

Brian Murimi by Brian Murimi
September 7, 2021
in News
Reading Time: 2 mins read
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M-Pesa tops 50 million monthly users

Mpesa is now Africa's largest fintech

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M-Pesa, the world’s most popular mobile money service, revealed today that it now has 50 million monthly active users, cementing its position as Africa’s largest fintech. M-Pesa, which began in Kenya more than 14 years ago, is now available in Kenya, Tanzania, Mozambique, the Democratic Republic of the Congo, Lesotho, Ghana, and Egypt.

We are proud to celebrate together with our customers, reaching 50 million monthly active M-PESA customers across our 7 African markets.
This milestone comes just 18 months after we launched M-PESA Africa.
Click here to learn more: https://t.co/RhdHhTMwQe

— Safaricom PLC (@SafaricomPLC) September 7, 2021

The achievement comes only 18 months after Safaricom and Vodacom created the M-Pesa Africa Joint Venture to help the service expand across Africa. M-Pesa Africa has also been working hard to develop digital platforms as part of its goal to become Africa’s largest fintech and digital ecosystem.

“14 years ago, we launched M-Pesa to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent. As an honour to this achievement, we are reiterating our commitment and deepening our focus on more innovations that will further transform the lives of our customers,” said Sitoyo Lopokoiyit, MD – M-Pesa Africa.

M-Pesa was established in Kenya by Safaricom and Vodafone in 2007 as a mechanism for customers to transmit money to each other instantaneously. The program provided their first and often only access to financial services for many clients, resulting in rapid expansion and adoption across the country.

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As a result, the service has played a significant role in the continent’s formal financial inclusion, which has increased by up to 55 percent.

M-Pesa has evolved into a two-sided network that offers a wide range of financial services to both businesses and individuals. Customers can send and receive money, make and receive business payments, pay bills, send and receive international money transfers, save and access credit all from the convenience of their mobile phones, wherever they are in the nations served by over 500,000 agents.

M-Pesa began rolling out the M-Pesa Super App throughout all of its markets in June 2021.

The M-Pesa Super App launched Mini-Apps, which allow customers and companies to complete daily chores such as shopping and accessing government services without having to download multiple apps.

Furthermore, the M-Pesa Super App offers over 50 million clients a modern, easy, and safe way to transact on their cellphones.

M-Pesa’s second side focuses on companies, with the company expanding its ecosystem to provide creative solutions to micro, small, and large businesses.

The M-Pesa for Business Super App, the Transacting Till, which allows businesses to go beyond accepting payments to making company payments, and Pochi La Biashara, which allows small enterprises to divide their personal and business funds, are among them. M-Pesa is used by over 500,000 enterprises to trade over $7 billion in monthly transactions.

Tags: BrandsCorporatesFulizaKenyaM-PesaMozambiquePeter NdegwaSafaricom
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Brian Murimi

Brian Murimi

Brian is the founding geek at the Netick. A tech enthusiast skilled in journalism, media relations, multi-platform broadcasting, and social media. Write to him via bryanmurimi@gmail.com

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