M-PESA Kenya
The Role of Mobile Money in Kenya’s Tech Surge
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent.
Minors Won’t Get Access to Loan Services in M-Pesa Junior Accounts
Image sourced from Kansas Discovery. Safaricom, a telecommunications provider in Kenya, confirmed that minors will not get access to loan services like M-Shwari and Fuliza. The Kenyan telco announced on Friday that it is introducing M-PESA Junior Accounts for individuals between the age of 10 and 18 years old. The company said that the minors will have access to the network via SIM cards registered under their guardians or parents. “We plan to soon launch an M-PESA Junior Product for our children who may have access to mobile phones,” Safaricom CEO Peter Ndegwa said. According to Techweez, M-Pesa makes the most money for the company, hence it wants to expand the scope of its M-Pesa services. It recorded a 30.3% YoY growth to KES 107.69 billion ($926.2-million). The total M-PESA transaction...
M-PESA Rakes in $1.5-Billion Amid Kenya’s Betting Craze
Image sourced from WeeTracker Kenyans have spent Sh169.1-billion ($1.5-billion) betting through Safaricom’s M-Pesa in the year to March. According to Business Daily, disclosures show that the value of bets jumped 23.8 percent from Sh136-billion ($1.2-billion) a year earlier. The Kenyan government is trying to crack down on gambling by imposing higher taxes both on the companies and those who are gambling. People in the country continue to bet despite this and Safaricom, the Kenya Revenue Authority (KRA) and other firms are scoring big time. Safaricom’s revenue from betting rose by 40 percent to Sh5.98-billion ($50.7-million) last year, placing it higher among other firms that are listed on the Nairobi Securities Exchange (NSE). The telco company relies heavily on business lines like data a...
Safaricom Hires Managing Director of Citibank
Managing Director of Citi Bank, Michael Mutiga, now part of Safaricom. Image sourced from Shava TV. Safaricom, a Kenyan telecommunications service provider, has hired the managing director of Citibank to be in charge of strategy and acquisitions. The telco is currently seeking regulatory approvals to launch insurance, unit trust, and savings products in an endeavour to compete with larger financial services and expand its mobile money platform M-Pesa. Michael Mutiga, MD of Citibank and head of corporate finance for sub-Saharan Africa from 2019 will be the new chief business development and strategy officer, according to an internal memo that was first seen by Business Daily. Mutiga will be replacing former Safaricom’s chief of special projects and acting chief business development and stra...
Fraud Scandal: MozzartBet Fights $2.6-Million Seizure Transferred Through M-Pesa
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent.
Safaricom Hits 30 Million Monthly Active M-PESA Users in Kenya
Image sourced from Business Daily. Telco Safaricom has revealed that its active M-PESA users have surpassed the 30-million mark for its Kenya customers, according to Techweez. Techweez says that this new development follows after the product’s 15th birthday after its launch in May 2007. M-PESA has the most active market accounting for more than 30 million of the service’s 51 million customers across Kenya, Tanzania, the Democratic Republic of Congo, Mozambique, Lesotho, Ghana, and Egypt. “The growth in M-PESA customer usage has been driven by the launch of various innovations over the years including financial services such as M-Shwari, KCB M-PESA, and Fuliza,” Peter Ndegwa, CEO of Safaricom, said. Last year, Safaricom launched the M-Pesa Super app that enables users to request payments, s...
Safaricom to Take All M-PESA Services Offline – When, Why & How Long
Image sourced from WeeTracker Safaricom is set to take down all M-PESA services from Saturday 6 November 2021 at 23:59 until Sunday morning 04:00 – effectively for four hours as Kenya’s largest telecom company conducts maintenance on its services for around the 10th time this year. The company says that all M-PESA services, including the purchasing of airtime, will be inaccessible during these 4 hours in the very early morning, a time which Safaricom says, “has been planned to result in the least of inconvenience to our customers.” “We apologize for any inconvenience that may be caused and thank you for your continued support.” Safaricom is asking those whose businesses may be affected by the outage to make necessary arrangements to “cushion” the impact of the services being offline. While...
All M-PESA Services Are Going Offline Tonight But for How Long?
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
M-PESA Becomes Africa’s Largest FinTech with 50-Million Active Users
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
9 out of 10 Kenyan SMEs Use M-Pesa for Payments, via New Survey
Image sourced from WeeTracker /* custom css */ .tdi_4_9b7.td-a-rec-img{ text-align: left; }.tdi_4_9b7.td-a-rec-img img{ margin: 0 auto 0 0; } A new survey conducted by Amethyst Consultants on SME perceptions of banking products in Kenya showed that up to 95% of SMEs (9 out of 10 companies) in the country use M-Pesa, Vodafone’s mobile money service, according to Business Daily Africa. The survey, commissioned by SNDBX, took place between the months of March and April 2021 and included 131 small to medium enterprises (SMEs) across 17 “key sectors”. “The survey highlighted that SMEs continue to be resilient through the pandemic season and a third [of SMEs] are looking forward to a better future in 2021,” says Amethyst Consultants Founding Director, Sharon Mbugua. /* custom css */ .tdi_3_7f1.t...
O-CITY Drives Contactless Bus Payment Initiative in Kenya
O-CITY is driving contactless payments across bus services in Nairobi, Kenya. The pilot initiatve, designed to reduce the use of cash in response to the COVID-19 pandemic, was launched in partnership with transport savings and credit specialists, NikoDigi, and Kenyan payments firm, Tracom, to accelerate the deployment of cashless fare collection. Used by 70% of the population in Kenya, Matatu buses are a dominant transport mode across the country whereby passengers traditionally pay in cash. O-CITY’s automated fare collection platform leverages the M-Pesa mobile wallet, which is used by 90% of the population in Kenya. Passengers enter a code on their phone and a debit is made on their wallet, which can be instantly seen by drivers to grant access to ride. The platform removes unnecessary t...
M-PESA is Close to a 99% Market Share in Kenya
Sourced from Tech Weez. As of 31 March 2020, the number of registered mobile money subscriptions in Kenya was 29.1 million. This space is dominated by Safaricom with M-PESA having a 98.8% market share. The Communications Authority of Kenya (CA) reports that Airtel Money comes in a far, far second at 1.1%, and third is T-Kash at a 0.05% share. Equitel, which is regarded more as a banking product than a mobile money service was not ranked by the CA. Launched in 2007, M-PESA has become a Kenyan stable, with Tech Weez writing that as of right now the service and its products are symbiotic with the country’s economy so far as to be impossible to run a business without it, or any other mobile money platform. M-PESA’s success has also firmly planted Kenya in the world map, the service is consider...
