When was m pesa founded

September 4, March 5, It seems so disturbing not getting this answer right WHO invented Mpesa please Bob colliemore help Kenyans resolve this disturbing issue n reward this young talented man hope he got rich out of the great idea. May 12, December 14, June 13, March 21, No doubts in this information. He even uses the M in M-pesa as his sign in all his belongings even his building along Mombasa road at Kiunduani town. December 16, How on Earth an inventor of such a Multi-Billion project be ignored?

Message to the stakeholders in Kenya: What are they planning to do to Ibrahim M M to solve this mess. November 5, I hope and pray that you find him. Nevertheless, in our poor Kenyan hearts we know it was one of our own. March 19, The man later told the story to a shop keeper around that area of how he met safaricom and told them of the same. Since then the idea was taken and a software was developed. The man is currently living a poor life as a watchman in one of the petrol stations in Thika Town.

Here is the latest in the ongoing of just who invented this service…Dr Mukhisa Kituyi, a former MP and minister of trade has been attending a fellowship at an American University. You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account.

Notify me of new comments via email. Notify me of new posts via email. About News Room. So who invented M-Pesa? Posted on May 23, This is what he said in the email… I have to record my disappointment …. Share this: Facebook Twitter Email. Like this: Like Loading Posted in: Uncategorized. Nittzsah May 23, Joe Black September 18, Ivan conyi October 29, William November 15, It is alleged that Mpesa was invented by a certain Migorian young man and university student.

William Kangu November 15, Nyagaka Ouko May 15, Ibrahim M. Magad May 21, Mahad May 21, Bob Emmanuel Magana. The pooling in the system aims to increase efficiency by reducing the number of players that need to ferry cash at each stage. Meanwhile, the layering in the system acts a cushion against clearing delays in the banking system, allowing for the speed of M-PESA transfers. Because the availability of liquidity is core to any payment service, Safaricom visits all agents on a bi-monthly basis to check on the quality of this process, and how agents are handling the growth in volumes of transactions.

In summary, if money transfers made through M-PESA were not immediately available, or if cash could not be reliably obtained from an agent, the M-PESA system would be of little value to its users. Kenya — not just a tech hub hey! Hi Andrea! Do agents in the pooling chain take a percentage cut of the cash in the process? How does that work? This is a fascinating business and sounds like it really is making a difference for the Kenyan population and the Kenyan economy, thanks for sharing!

It makes sense that this mobile payments system was developed by a mobile network operators, given that Safaricom would have had to overcome similar distribution challenges to sell airtime in rural, difficult to access locations. Facebook Twitter. Instagram YouTube Blog. Save page offline. The Kapedo Base Station Story This base station was put up in the heart of the Great Rift Valley, in the town of Kapedo, which is deep in what is called the valley of death. Partnerships that Transform Communities Through our partnerships with various groups, we are delivering more than just voice or data to communities across Kenya.

Safaricom and the Sustainable Development Goals One of the biggest challenges facing our business today is how to create sustainable growth and at the same time leave no Kenyan behind in our growth story. Relevant Solutions that Transform Lives We have delivered solutions such as the Safaricom App and Hakikisha, which gives our customers more control over how they use our network. Growing with our partners We have made a conscious choice to grow with our partners, who are using our mobile platform to deliver unique services that meet the needs of Kenyans.

Building a network for the future We have started delivering the network of the future through 4G, which is now available in over 30 counties in Kenya.

Was this information helpful? Share Page. Investor Relations ». Chat with Zuri on WhatsApp X. Today, M-Pesa says it has 42 million active customers and , agents across seven countries.

The Gates Foundation has funded mobile money projects and developed software for mobile money platforms. Private companies have created M-Pesa competitors. One such company is Wave , a sleeker low-fee mobile money app. Disclosure: I know of it because many of my global-poverty-minded friends have worked there. Wave was founded and is run by people who want to bring M-Pesa-like programs to unbanked people in other countries.

Unfortunately, replicating that early success has proven difficult. M-Pesa was exactly what Kenya needed, and it took off there. Despite the country having lots of unbanked people and lots of interest in a better money transfer system, M-Pesa and competitors have failed to get a foothold. In other countries, mobile money systems have been shut down by the government at the behest of central banks or competitors.

And lots of other factors vary, too. One country Wave operates in is Senegal. In Senegal, only 8 percent of the population has access to banks, and only about 8 percent has a mobile money account.

They would rather have mobile accounts than deal with banks. Mobile money, on the other hand? In many countries, initially successful mobile money programs have been brought to a grinding halt by new laws once they got too big, or taxed so heavily that they were unusable for casual transactions. It was a combination of the right technology, at the right time, rolled out in the right way, with the right decisions from the Kenyan government to allow the system without applying onerous regulations or high government fees on every transaction.

There are already banks in the US that are online-only, trying to take advantage of the change in how we do transactions to avoid the high costs of physical branch locations. And yet, a decade after it first took off, it remains in many places underutilized.

The evidence base for it is significantly stronger than the evidence base for popular financial access interventions like microloans.

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