On Thursday, Safaricom, a leading telecommunications company in Kenya, announced that its mobile money service, M-PESA, had reached a significant milestone of 34 million customers as of November. In an official statement, Safaricom highlighted that this achievement underscores the company’s dedication to enhancing the financial well-being and prosperity of individuals and businesses across the African continent.
“We are incredibly proud to have 34 million M-PESA customers in Kenya. This accomplishment is a testament to our unwavering commitment to delivering seamless, reliable, and secure banking services to our users. The trust our customers have placed in us motivates us to continue innovating and adding value to their lives,” said Dr. Peter Ndegwa, CEO of Safaricom.
Launched in March 2007, M-PESA will celebrate its 18th anniversary in March 2025. Over the years, it has evolved from a simple payment and transaction platform into a comprehensive financial ecosystem. Today, M-PESA offers a wide range of services, including credit, savings, investment options, wealth management, insurance solutions, and various other financial services.
With an extensive network of over 300,000 agents across the country, M-PESA plays a crucial role in driving Kenya’s economic growth by providing access to financial services even in the most remote areas.
Additionally, M-PESA’s merchant payment solutions support approximately 1.5 million micro, small, medium, and large enterprises. Recently, Safaricom secured an insurance intermediary license, enabling the company to collaborate with multiple insurance providers to offer a broad spectrum of insurance solutions to its customers through the M-PESA platform.
