• Latest
  • All
  • How To
Safaricom Earned KES 107.7 Billion from M-PESA in 2022 as Customers Snub M-Shwari for Fuliza

Safaricom Earned KES 107.7 Billion from M-PESA in 2022 as Customers Snub M-Shwari for Fuliza

October 24, 2022
xiaomi

Xiaomi June 26 Mega Launch: From EVs to Foldables

June 24, 2025
All-Screen-iPhone-2027-Apple

Apple Reportedly Working on an All-Screen iPhone

June 24, 2025
Unified Payment Interface

CBK’s New Fast Payment System Plan Could Rival M-Pesa

June 24, 2025
Starlink

Starlink Resumes Sign-Ups in Nairobi After 7-Month Freeze

June 24, 2025
DHgate Tablet Cases deals
ASUS ROG Flow Z13

ASUS ROG Flow Z13 Proves Portability and Power Can Coexist

June 24, 2025
Infinix InBook Air

Infinix InBook Air Review: Perfect Laptop for Students and Simple Workflows

spotify-mobile

Spotify Lossless HiFi Update Nears Reality After Years of Delay

June 23, 2025
whatsapp

WhatsApp Is Testing a New AI Tool To Help Users Write Texts

June 23, 2025
SHIF Status

How to Check Your SHIF Status in Kenya: A Complete Guide

June 23, 2025
youtube google ai

Google Finally Admits To Using YouTube Videos To Train Its AI Models

June 23, 2025
Microsoft AI for Good Lab tool GIRAFFE

How Microsoft’s AI for Good Lab Is Helping Save Giraffes from Extinction

June 20, 2025
itel City 100

Gen Z Get a New Budget AI Smartphone With the itel City 100

June 20, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Safaricom Earned KES 107.7 Billion from M-PESA in 2022 as Customers Snub M-Shwari for Fuliza

Kenn Abuya by Kenn Abuya
October 24, 2022
in News
Reading Time: 4 mins read
254
0
KCB Group CEO Paul Russo left, together with Safaricom PLC CEO Peter Ndegwa
after signing the climate commitment act at the Michael Joseph Centre during
the Safaricom Sustainable Business report launch.

KCB Group CEO Paul Russo left, together with Safaricom PLC CEO Peter Ndegwa after signing the climate commitment act at the Michael Joseph Centre during the Safaricom Sustainable Business report launch.

Safaricom has many ways of making money. However, its biggest asset has been M-PESA, and all other products and services associated with it. The telco has incorporated a lot of products into the mobile money product: Lipa na M-PESA, M-Shwari, KCB M-PESA, Fuliza, M-PESA Global, name them, and these services have been created to bolster the company’s revenues.

M-PESA App

Let’s take a look at recent developments. The M-PESA super app has been around for more than two years, and it bundles all M-PESA services into one app. It also allows partners to publish their mini apps in it so you don’t have to download their individual apps for your smartphone. The carrier reports that it has since published 32 mini apps on the M-PESA app. For FY22, there were over 2.7 million 30-day active users, with 1.1 million transacting and 249K business app downloads.

READ MORE: A BUNCH OF COOL THINGS TO DO WITH THE M-PESA APP

Halal Pesa

The launch of Halal Pesa in March 2022, which we covered here, was also done by the telco to drive inclusivity of unserved markets. The product is Shariah-complaint and allows its users to access credit and savings. There were over 2 million opt-ins during the FY22 period.

M-PESA Global Pay Virtual Visa Card was also announced mid-2022. The widely publicized product allows customers to make international purchases via M-PESA thanks to a partnership with VISA.

READ: PAYING FOR NETFLIX USING SAFARICOM M-PESA VIRTUAL VISA CARD

As some of you may have noticed, M-PESA statements for customers and merchants now have a Safaricom e-stamp on every page. This means that there is no need of visiting a shop to get your statement stamped.

The service incorporates a unique alpha-numeric code at the bottom of every page, empowering banks, Savings and Credit Co-operative Societies (SACCOs) and financial services institutions (FSIs) to confirm the statement’s validity – Safaricom in a statement

Fuliza

The overdraft facility is one of Safaricom’s biggest money-makers ever since it was launched. Its rates have since been reduced, but it has raked in some impressive numbers (for the telco) over the FY22 period.

For instance, Fuliza M-PESA enabled a total of 1.4 billion transactions totaling KES 502.6 billion in value.

Pochi la Biashara

The product was launched back in 2020, targeting business owners who may not have pay or pay bill numbers, but want to separate payments from their personal M-PESA account.

The product is interesting because often, customers usually send cash to personal M-PESA accounts of food vendors, small kiosk owners, boda-boda operators, and second-hand clothes dealers, name them, who do not have a business line (Lipa na M-PESA).

Pochi la Biashara now has over three million signed-up micro businesses with more than 170 000 monthly active users. Revenue generated in FY22 was KES 80 999 088.

Business Transacting Till

This is an extension of Lipa na M-PESA Buy Goods Till, which allows small business owners to collect payments on their rill, and then use the funds to make other payments directly from their till. The payments may entail wages/salaries, withdrawal of funds from an M-PESA agent, the sale of airtime to customers, and the earning of commission without needing to go to the bank or phone as was the case with the original Buy Goods Till product.

Over the reporting period, there were 169 763 monthly active users, a revenue of KES827 018 589, and values for these secondary transactions grew by 85% year-on-year.

Summary

 FY19FY20FY21FY22
MPESA
Revenue in KES Billion7584.483.6107.7
No. of M-PESA users (million: 30-day active)22.624.928.330.5
No. of Lipa na M-PESA merchants123K173K302K493K
Diaspora remittances via M-PESA Global (KES Billion)119158289.7395.7
 FY19FY20FY21FY22
M-SHWARI
No. of customers (million: active users)3.994.663.984.67
M-Shwari deposits (KES billion)213.4320571.2745
M-Shwari loans (KES billion)97.5129.694.586.1
 FY19FY20FY21FY22
FULIZA
No. of transactions (million)46.4392.9787.11456
Amount disbursed (KES billion)29245351502.6
Tags: FulizaM-ShwariSafaricom
SendShare147Tweet92
Kenn Abuya

Kenn Abuya

Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]

Related Posts

Unified Payment Interface

CBK’s New Fast Payment System Plan Could Rival M-Pesa

June 24, 2025
Kenya Safaricom share sale

Kenya Plans Mega Sale of Safaricom Shares to Raise Over a Billion Dollars

May 26, 2025
Safaricom, Airtel, Telkom lawsuit

Safaricom, Airtel, Telkom and CA Sued in Data Rollover Lawsuit

May 28, 2025
Safaricom launches revamped business loans

Safaricom Unveils Business Credit via M-PESA and Pochi Wallets

May 21, 2025
Safaricom Quickmart partnership

Safaricom 4G and 5G Routers Now Available at Quickmart Stores

May 17, 2025
Safaricom 5G for Business

How Safaricom 5G is Revolutionizing Enterprise Connectivity

May 17, 2025

Latest

xiaomi

Xiaomi June 26 Mega Launch: From EVs to Foldables

June 24, 2025
All-Screen-iPhone-2027-Apple

Apple Reportedly Working on an All-Screen iPhone

June 24, 2025
Unified Payment Interface

CBK’s New Fast Payment System Plan Could Rival M-Pesa

June 24, 2025
Starlink

Starlink Resumes Sign-Ups in Nairobi After 7-Month Freeze

June 24, 2025
ASUS ROG Flow Z13

ASUS ROG Flow Z13 Proves Portability and Power Can Coexist

June 24, 2025
Infinix InBook Air

Infinix InBook Air Review: Perfect Laptop for Students and Simple Workflows

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Xiaomi June 26 Mega Launch: From EVs to Foldables

June 24, 2025

Apple Reportedly Working on an All-Screen iPhone

June 24, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

Spotify Lossless HiFi Update Nears Reality After Years of Delay

WhatsApp Is Testing a New AI Tool To Help Users Write Texts

How to Check Your SHIF Status in Kenya: A Complete Guide

Google Finally Admits To Using YouTube Videos To Train Its AI Models

How Microsoft’s AI for Good Lab Is Helping Save Giraffes from Extinction

Gen Z Get a New Budget AI Smartphone With the itel City 100

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.