Safaricom’s mobile money platform, M-PESA, achieved a major milestone in November 2024, crossing 34 million customers. Eighteen years since its launch, M-PESA has grown beyond a payment tool to become a comprehensive financial ecosystem, transforming the way Africans access financial services.
Why This Milestone Matters
M-PESA’s success lies in its ability to innovate and adapt to customer needs. From simple money transfers to a fully-fledged financial hub offering credit, savings, insurance, and investments, it has become a cornerstone of Africa’s digital economy.
By the Numbers
- 1.5 million businesses rely on M-PESA for seamless transactions.
- Over 300,000 agents form its extensive nationwide network.
- The Daraja API platform supports 90,000 developers, powering 40,000 business solutions.
SEE ALSO: M-KOPA Surpasses 5 Million Customers, Unlocks $1.5 Billion in Financing Across Africa
Driving Growth Through Innovation
M-PESA continues to lead with cutting-edge features like Ratiba, its recently launched standing order service. Within a month of its October debut, Ratiba attracted 1 million opt-ins and processed 260,000 transactions, streamlining recurring payments for individuals and businesses alike.
Pioneering Financial Inclusion
M-PESA’s impact extends far beyond numbers. It has brought banking services to unbanked populations, empowered small businesses, and catalyzed economic growth. With its robust infrastructure and relentless innovation, M-PESA exemplifies how technology can drive financial inclusion and transform lives across Africa.
As M-PESA scales new heights, it reaffirms its position as not just a mobile money platform but a critical driver of Africa’s digital and financial future.
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