Strong partnerships, financial inclusion behind M-Pesa success - Safaricom

Safaricom has credited the success of its M-Pesa platform to a collaborative and innovative ecosystem of stakeholders.

The company’s board chairperson Adil Khawaja said contributions from technology partners, financial institutions, dealers and agents made it possible for M-Pesa to become one of the best innovations globally.

Speaking during celebrations to mark 18 years since its establishment, Khawaja was full of gratitude to the partners, including employees, noting that without them, M-Pesa would not be where it is today.

“To our technology partners, thank you for building and maintaining a secure, scalable and robust platform that has enabled M-Pesa to process billions of transactions seamlessly,” he remarked.

“To our stakeholders; banks, financial service providers and business partners, your collaboration and trust have been key in expanding the reach and impact of M-Pesa.”

He further recognised dealers and agents as the face of M-Pesa, bridging the gap between the technology and the people it serves.

Safaricom CEO Peter Ndegwa explains a point during the celebrations to mark M-Pesa's 18th birthday at Safaricom headquarters on March 7, 2025/SAFARICOM

Company CEO Peter Ndegwa reflected on nearly two decades of growth of the money transfer platform.

He underscored M-Pesa’s role in fostering financial inclusion, connecting families across distances and empowering millions with life-changing opportunities.

“Innovation and collaboration have been at the heart of our success, helping us grow into a trusted lifeline for communities not only in Kenya but in seven other countries as well," Ndegwa said.

He added that as M-Pesa celebrates the milestone, the company remains inspired by the potential for further progress. M-Pesa's success has been crucial in integrating millions of previously unbanked Kenyans into the formal financial system.

Additionally, it has revolutionised the way families send remittances across the country, supporting loved ones over vast distances.

The platform’s growth and impact are further strengthened by its integration with other digital services, creating a seamless ecosystem of financial services.

Central Bank of Kenya (CBK) Banking and Payment Services director Michael Eganza was also present during the event.

He said while there was no blueprint for mobile money regulation during M-Pesa's years of operation, today Kenya is a global benchmark.

Eganza said with M-Pesa, digital financial services remain secure affordable and accessible by every Kenyan.

“We are happy industry players like Safaricom appreciate our role in the sector as regulators, which is to promote trust, stability and customer confidence for all our licensees,” he said.

M-pesa was officially launched on March 6, 2007.

Although it was initially met with skepticism, its ease of use and convenience quickly won over users.

A month after the launch, M-Pesa had 19,671 mobile active users.

In November of the same year, the numbers had ballooned to an unprecedented 1,041,522 active M-pesa users.

Ndegwa said currently, they record over 100 million transactions daily and 4,000 transactions per second.

Others present during the event were Agriculture Cabinet Secretary Mutahi Kagwe, former Treasury Cabinet Secretary Njuguna Ndung'u and ex-CBK Governor Patrick Njoroge.

Kagwe, who was representing ICT Cabinet Secretary William Kabogo during the event, was the then IT minister.