Today marks M-PESA’s 18th anniversary, a significant milestone for the Safaricom PLC-owned mobile money platform. Now considered an adult under Kenyan law, M-PESA has seen remarkable growth and achievements over the past 18 years.
Since its launch in March 2007, M-Pesa has established itself as the clear market leader, holding a 93.4% share. This growth has coincided with a surge in mobile money subscriptions across Kenya, reaching 40.6 million and a 78.9% penetration rate.
M-PESA’s global presence extends to over 170 countries, serving well over 70 million customers. In Kenya, Ethiopia, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho, Ghana, and Egypt, the mobile financial services provider has expanded to include over one million businesses and agents.
The service’s essential role for businesses in these nations is demonstrated by its massive Daraja platform, featuring over 55,000 integrations and a developer community exceeding 100,000.
Processing nearly 100 million transactions daily at 4000 transactions per second, it stands as Africa’s most extensive fintech solution.
Read: M-Pesa Charges, Withdrawal and Send Money Fees
After 18 years, M-Pesa would like to assure its customers that they remain committed to serving them.
The platform’s current growth is geared towards supporting a wider range of digital services, enabling quicker product development, and achieving higher stability and reliability.
“M-PESA’s future success will be based on its ease of use and its seamless integration with other services and products to give customers a comprehensive suite of financial services at their fingertips. M-PESA represents the future of mobile financial services across the continent,” stated Esther Waititu, Safaricom’s Chief Financial Services Officer.
