Safaricom has announced a major milestone as its mobile money platform, M-PESA, reached 34 million subscribers in November 2024. This achievement reflects the company’s commitment to enhancing financial health and wellness across Africa.
Since its launch in 2007, M-PESA has grown into a comprehensive financial ecosystem offering services like credit, savings, investments, insurance, and more. With over 300,000 agents nationwide. The platform ensures access to financial services in even the most remote areas, playing a vital role in Kenya’s economic growth.
M-PESA supports over 1.5 million businesses through merchant payment options. Recently a comprehensive insurance solutions via an insurance intermediary license was added to the platform. The introduction of innovative services like M-PESA Ratiba, a standing order feature launched in October 2024 further enhanced convenience for customers. This helped to achieving over 1 million opt-ins within a month.
Safaricom CEO Dr. Peter Ndegwa expressed pride in this milestone. He highlighted the trust of customers and the company’s dedication to secure and seamless financial services. Strategic partnerships and innovations like the Daraja platform, supporting over 40,000 integrations, continue to drive M-PESA’s growth and impact.
As Safaricom celebrates 24 years of service with initiatives like the Sambaza Furaha na Safaricom Caravan. The company remains committed to advancing financial inclusion and transforming lives. With a vision to become Africa’s leading purpose-driven technology company by 2030.
