M-PESA, Africa’s largest mobile financial service, is celebrating 18 years of innovation. Since its launch in March 2007, it has transformed financial access. Today, it serves over 70 million customers and operates in more than 170 countries.
The mobile money service has revolutionized transactions across Africa. It allows instant, secure, and reliable payments through mobile phones. M-PESA has expanded in Kenya, Ethiopia, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho, Ghana, and Egypt. More than one million businesses and agents rely on the service.
The fintech also powers over 55,000 integrations on the Daraja platform. This platform hosts more than 100,000 developers. With a capacity of 4,000 transactions per second, M-PESA processes close to 100 million transactions daily.
M-PESA’s Digital Transformation
As mobile technology improves, the company is shifting toward digital financial services. In 2021, M-PESA Africa launched the M-PESA Super App. This app introduced the M-PESA Business App, which lets businesses create virtual storefronts and offer services online through M-PESA Mini Apps.
The increased use of smartphones, 3G, and 4G broadband has fueled this transition. The company aims to connect customers and businesses through digital financial solutions. Safaricom CEO Dr. Peter Ndegwa emphasized this vision:
“In the last 18 years, M-PESA has transformed the lives of millions of customers, empowering them with useful and affordable financial services. With increasing smartphone usage across the continent, we are transitioning to be a digital financial services provider connecting customers and businesses to opportunities and powering their growth through our tech-powered solutions.”
Also Read: M-PESA GO, Old Mutual, and KICD Launch Financial Literacy Toolkit for Students
Ziidi Investment Platform and Future Plans
To mark its 18th anniversary, Safaricom has launched the Ziidi Investment Platform. This platform includes the Ziidi Money Market Fund, which already has over one million opt-ins. Safaricom also plans to introduce Shariah-compliant investments to expand financial inclusion.
Safaricom’s Chief Financial Services Officer, Esther Waititu, highlighted M-PESA’s strategy for future success:
“M-PESA’s future success will be based on its ease of use, and its seamless integration with other services and products to give customers a comprehensive suite of financial services at their fingertips. M-PESA represents the future of mobile financial services across the continent.”
The company has played a key role in economic growth across Africa. It has driven financial inclusion by making banking services accessible to millions. The platform continues to expand and improve its reliability and efficiency.
Looking Ahead
As part of the celebrations, Safaricom is engaging key stakeholders. These include customers, investors, communities, technology partners, employees, regulators, and the media. The company aims to reassure customers of its commitment to a safe and secure financial ecosystem.
The fintech giant has already changed how Africa handles money. It enables small businesses, facilitates trade, and enhances financial stability. As the platform continues to innovate, it promises to shape the future of digital finance.
With ongoing investments in technology and expansion, M-PESA is set for more milestones. As it marks 18 years, the fintech giant looks forward to more growth, innovation, and success in the years ahead.