Kenya’s leading telco Safaricom announced on Thursday that its mobile money platform M-PESA hit 34 million customers in November.
In a statement, Safaricom said the achievement signifies its commitment to enabling the financial health and wellness of individuals and businesses across the continent.
‘’We are immensely proud to reach 34M M-PESA customers in Kenya. This accomplishment underscores our dedication to deliver frictionless, always on and secure financial services to our customers. This milestone, a show of great trust by our customers, serves as a motivation to keep innovating and delivering value to our customers.’’ Safaricom’s CEO Dr. Peter Ndegwa said.
M-PESA, which turns 18 in March 2025 has evolved over the years beyond payments and transactions to a financial ecosystem offering credit, savings, investment solutions, wealth management, insurance solutions and a host of other financial services.
With a vast network of over 300,000 agents nationwide, ensuring that even remote areas have access to financial services, the platform plays a significant role in Kenya’s economic growth.
Furthermore, the platform supports over 1.5M micro, small, medium, and large enterprises through its merchant payment options. Most recently Safaricom acquired an insurance intermediary license partnering with various insurance providers to offer comprehensive insurance solutions to its customers via M-PESA.
Through strategic partnerships with other institutions, M-PESA has broadened its reach and enhanced its value proposition. Its Daraja platform allows businesses secure seamless integrations of their websites, mobile apps, and point-of-sale systems to M-PESA through Application Programming Interfaces (APIs). This has accelerated innovation creating a robust developer community of over 90k supporting over 40k integrations.
In October this year, M-PESA launched M-PESA Ratiba, a first-of-its-kind mobile money standing order solution. The solution achieved over 1M opt-ins in just a month enabling over 260k transactions.
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