M-Pesa, a mobile money service, announced today that it has reached 50 million monthly active customers strengthening its position as Africa’s largest fintech. Launched more than 14 years ago in Kenya, M-Pesa is today available in Kenya, Tanzania, Mozambique, DRC, Lesotho, Ghana and Egypt.
The milestone comes just 18 months after Safaricom and Vodacom launched the M-Pesa Africa Joint Venture to accelerate growth of the service across the continent. M-Pesa Africa has equally been striving to deliver digital platforms as part of its focus to be the largest fintech and digital ecosystem across the continent.
In 2007, Safaricom and Vodafone launched M-Pesa in Kenya as a way for customers to instantly send money to each other. For many customers, the service became their first and often only access to financial services propelling its fast growth and adoption across the country.
Sitoyo Lopokoiyit, MD – M-Pesa Africa explained, “14 years ago, we launched M-Pesa to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent.”
In June 2021, M-Pesa began rolling out the M-Pesa Super App across all its markets. This introduced one of the service’s key innovations in the form of Mini-Apps which enable customers and businesses to accomplish day-to-day tasks from shopping to accessing government services without having to download different apps for each task.
In addition, the M-Pesa Super App provides the more than 50 million customers with a modern, intuitive and secure way to transact on their smartphones.