When M-PESA was launched in March 2007, not many people had the slightest idea of how it was going to transform the lives and economic interactions of Kenyans. M-PESA went viral as it became convenience that every Kenyan was looking for.
Almost 9 years later, M-PESA has become a force that Kenyans have continued to take pride in. Here are 9 reasons to prove that Kenya Runs on M-PESA.
- Trusted by millions
Approximately 21.8 million Kenyans are on M-PESA with over 1.5 million customers of those paying their bills via M-PESA.
- Unrivalled network of agents
M-PESA has the unmatched network of over 89,000 agent outlets; largest agent network in the country.
- Contribution to the economy
M-PESA’s contribution to the Kenyan economy stands at GDP of over 40%.
- Monthly transfers
M-PESA’s average monthly value of person to person transfer is Kshs 106B; Person to Business is KShs 23.5bn and Business to Person is Kshs 27.8bn per month.
- M-Shwari Saves
M-shwari provides avenues for financial inclusion so that Kenyans can access loans. Over 11.5M customers are on M-Shwari, of which 5.8M are active.
- Airtime purchase
To date, over 41.1% of Safaricom airtime is purchased via M-PESA
- Lipa Na M-PESA
There are over 199,000 Lipa Na M-PESA merchants transacting over Kshs.11.6B by March 2015 Lipa Na M-PESA is currently the largest cashless service in Kenya, in terms of volumes and value transacted and active merchants.
- Homesend partners
M-PESA available in over 100 countries globally in partnership with Homesend partners including MoneyGram and Vodacom Tanzania among other International Money Transfer service providers.
- Diversity of services
M-PESA has the widest range of financial services which include Person to Person, ATM withdrawal, Lipa Na M-PESA), Bulk Payments, Bank to M-PESA and Vice Versa, M-Ticketing, Lipa Karo, M-PESA Prepay Visa card, International Money Transfer (IMT), Lipa Na M-PESA Online and M-Shwari.
How has M-PESA transformed your life? Share in the comments section.