Safaricom has announced on Thursday that its mobile money platform, M-PESA, reached 34 million active customers in November, marking a significant milestone in the company’s mission to enhance financial inclusion across Africa.
“This success demonstrates our commitment to providing frictionless, always-on, and secure financial services to our customers,” said Safaricom CEO Dr. Peter Ndegwa. “The milestone is a testament to the trust our customers place in us and serves as motivation to continue innovating and delivering value.”
Launched nearly 18 years ago, M-PESA has evolved from a basic payment and transaction platform into a comprehensive financial ecosystem. Today, it offers services ranging from credit and savings to investments, wealth management, and insurance solutions.
With over 300,000 agents spread across Kenya, M-PESA provides critical access to financial services, even in remote areas. The platform’s reach extends to approximately 1.5 million businesses, from micro-enterprises to large corporations, through its merchant payment solutions.
In a bid to further diversify its offerings, Safaricom recently obtained an insurance intermediary license. This allows the company to collaborate with multiple insurers, offering a wide range of insurance products directly through M-PESA, a move aimed at simplifying access to insurance for millions of Kenyans.
M-PESA’s growth underscores its role in driving Kenya’s economic development by empowering individuals and businesses with seamless access to financial services. Safaricom’s commitment to innovation continues to position the platform as a cornerstone of Kenya’s digital economy.
