• Latest
  • All
  • How To
M-Pesa Ecosystem Supporting Over 1 Million Businesses in Africa

M-Pesa Ecosystem Supporting Over 1 Million Businesses in Africa

September 18, 2023
University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025
AI Africa policies database

New Platform Brings All African AI Policies Under One Database

May 28, 2025
POATE 2025

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

May 28, 2025
sodium-ion battery

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

May 27, 2025
DHgate Tablet Cases deals
TV Gambling Ads

Regulator Fines Stations Using Religious Shows to Push Gambling

May 27, 2025
Connected Africa Summit 2025

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

May 27, 2025
whatsapp chatbots

iPad Users May Finally Get a Native WhatsApp App

May 28, 2025
Connected Africa Summit

Connected Africa Summit Calls for Unified Tech Vision

May 28, 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
Metered Internet bill

New Bill Wants to Meter and Monitor How You Use the Internet

May 26, 2025
veo 3

Veo 3 by Google Sets a New Standard in AI Video Creation

May 28, 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

M-Pesa Ecosystem Supporting Over 1 Million Businesses in Africa

Sakwa Kombo by Sakwa Kombo
September 18, 2023
in News
Reading Time: 3 mins read
271
0
M-Pesa Ecosystem Supporting Over 1 Million Businesses in Africa

The M-Pesa ecosystem is proving to be a crucial infrastructure for businesses and customers on the African continent. Currently, M-Pesa is enabling more than one million businesses fulfill different transactions.

According, to M-Pesa Managing Director Mr. Sitoyo Lopokoiyit, more than 70,000 developers have used the M-Pesa Open APIs. An Application Programming Interface (API) is simply how two different systems talk to each other. In the case of the M-Pesa ecosystem, the Open APIs enable payment receipt, automated payment disbursements, and payment reversal.

This machine-to-machine payment transfer has enabled M-Pesa to integrate with businesses and major financial players. Additional, M-Pesa ecosystem has been part of government digitalization. The eCitizen platform in Kenya is one such example.

M-Pesa Integration

Major financial players have integrated Mpesa into their business systems. This includes banks like Kenya Commercial Bank (KCB), NCBA, and more. Additionally, M-Pesa open APIs have enabled integration with major African fintech institutions like Flutterwave and KopoKopo.

M-Pesa already has M-Pesa Global. The service has enabled M-PESA customers to transact in over 170 countries across the globe. Recently, Safaricom announced a partnership with TerraPay adding to a roster of more than 35 global partners.

Meanwhile, M-Pesa is a partner with Visa. The partnership enables customers to make virtual payments globally and businesses on M-PESA to receive payments from customers. In addition, there is an expected partnership between M-Pesa and Apple.

M-Pesa is also set to become the first mobile platform to introduce standing orders for users.

M-Pesa Ecosystem in Africa

Established on 6th March 2007 by Vodafone’s Kenyan associate, Safaricom, M-PESA is Africa’s leading mobile money service with more than 800,000 active agents operating across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique, and Tanzania.

The M-Pesa ecosystem serves more than 59 million customers across the continent. In the financial year 2022/2023, M-Pesa revenue grew 8.8% to KES 117.2 billion. This accounted for almost 40% of Safaricom PLC’s earnings. Hence, it is Safaricom’s most profitable service.

Daily, 5 M-PESA services cater to between 5 to 10 million customers. In a year, over $314 billion is transacted through the M-PESA ecosystem.

Kenya is where M-Pesa has most of its customers. In the country, more than $4 billion (KES 587 billion) is deposited every month into bank accounts through M-PESA. The service also enables banks to disburse more than $40 million in credit per day especially in microloans. According to a Competitions Authority of Kenya report, 74% of the digital loans in Kenya are from lending platforms associated with M-Pesa.

For example, in the first half of the current financial year KCB disbursed KES 154.3 billion in mobile loans.

Taking a look at Mozambique, M-Pesa has been in the country for a decade now. Today, the ecosystem supports more than 5.8 million customers with financial services across a network of 53,000 agents and 25,000 businesses.

In August, Safaricom officially launched its mobile banking service M-Pesa in Ethiopia. This was followed by the announcement of partnerships with banks that will provide agent, super-agent, and mobile banking services. Ethiopia is a massive investment for Safaricom and the launch of M-Pesa opens up the fintech ecosystem to Africa’s second-largest population.

Tags: Safaricom
SendShare150Tweet94
Sakwa Kombo

Sakwa Kombo

My Bio is in my written articles.

Related Posts

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
Safaricom-IXAfrica-Centres-1

Safaricom Partners with iXAfrica to Build Region’s First AI-Ready Data Centre

May 17, 2025

Latest

University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025
AI Africa policies database

New Platform Brings All African AI Policies Under One Database

May 28, 2025
POATE 2025

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

May 28, 2025
sodium-ion battery

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

May 27, 2025
TV Gambling Ads

Regulator Fines Stations Using Religious Shows to Push Gambling

May 27, 2025
Connected Africa Summit 2025

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

May 27, 2025

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

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025

New Platform Brings All African AI Policies Under One Database

May 28, 2025

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

Follow Us

Editorials

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

Introducing A Brainbox Quiz: Techweez’s Monthly Trivia Night!

5 Most Reliable Virtual Dollar Card Providers in Nigeria

More News

iPad Users May Finally Get a Native WhatsApp App

Connected Africa Summit Calls for Unified Tech Vision

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

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

New Bill Wants to Meter and Monitor How You Use the Internet

Veo 3 by Google Sets a New Standard in AI Video Creation

  • 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.
.