when an idea , trend , or social behavior crosses a threshold , tips , and spreads like wildfire . I believe it ’ s during this period that M-PESA attained that critical mass . By June 2018 , M-PESA had 21 million active customers , 162,800 M-PESA Agents and its mobile money transactions were equivalent to 44 percent of Kenya ’ s GDP .
Walter Chabala
Come January 10th 2019 , a most phenomenal chapter of M-PESA ’ s story was being written-Fuliza ! Just as is tradition , it stayed true to its DNA : customer centricity , simple strategic communications and the ultimate drive of transforming lives by solving specific customer needs . It ’ s because of this that Fuliza hit one million subscriptions within the first week , while its loan book hit Sh1 billion .
According to Safaricom data for the year ended March 2021 , the number of daily active Fuliza customers doubled from 700,000 to 1.4 million , borrowings rose from Sh244.6 billion a year to Sh351.2 billion ( 43 % growth ) translating to Sh962 million daily borrowing . Just wow ! Something tier one banks can only dream of . This remains Collymore ’ s signature innovation .
Also , with Bob Collymore at the helm of Safaricom , the M-PESA Foundation integrated the use of mobile technology in its investments while focusing on areas of greatest need and impact . It invested in large scale health , environmental conservation , education , and integrated water projects .
Richard Branson reminds us that , every success story is a tale of constant adaption , revision and change . I guess this must have been Safaricom ’ s theme in April 2020 when the twin changes of Peter Ndegwa taking over as Safaricom CEO and Sitoyo Lopokoiyit taking up space at M-PESA Africa ’ s corner office as Acting Managing Director “ ( confirmed early 2021 ) - ' a new joint venture between Safaricom and Vodacom .'
Customer-obsessed , Purpose-led
According to Peter Ndegwa , in this chapter , the story is all about “ A customer-obsessed and purpose-led technology company .” And indeed , this journey kicked off with the launch of M-PESA Business App in May 2020 and as is typical with Safaricom products , the reception went beyond expectations .
Within months , the convenience of this app saw more than 70,000 businesses using it to manage their Lipa Na M-PESA tills and more than 45 % of all Lipa Na M-PESA business transactions recorded taking place on the app . Infact , the consumer feedback was so positive with many businesses saying that for the first time , M-PESA had provided them with a tool where they could easily track their money as it came in and went out .
June 10th 2021 ; and in comes another game changer ; M-PESA Super App with Offline Mode and Mini Apps was launched . With this , M-PESA was not only bringing a lifestyle app into existence but very well writing another exciting chapter in the Transforming Lives story .
Right from the design , security features , personalized functionalities , the send to many / request money options and the much anticipated offline mode capabilities ; this again , is an innovation setting standards . Get me right , this is not the ‘ we ’ ve made your camera big ’ kind of “ innovation ”; this is coming to an entirely new space , setting the rules and commanding the game kind of innovation .
The biggest innovation introduced with the Super App is the Mini- Apps innovation . Mini-Apps will enable customers and businesses complete day-to-day and occasional tasks within the M-PESA Super Apps including : deliveries , ticket booking , shopping , licences applications , insurance and much more from hundreds of businesses , government agencies , utilities and other firms .
Basically , Mini Apps provide customers with the convenience of accomplishing tasks in one place and most of all ; saves customers from the inconvenience of downloading different apps every time they want to do something .
M-PESA : Going Beyond
Today , beyond sending money home and to each other , we rely on M-PESA to pay our bills , make payments when shopping , for our banking services , for international money transfers , and much more . The growth and evolution of the service is a testament not only to the innovativeness of Safaricom , but testament to the value of staying true to purpose and a ‘ customer-first ’ business approach .
So , as for this giant called M-PESA ; thus far you have been ahead , stayed ahead ; ‘ kwa ground though , vitu zinaendelea kubadilika .’ The shift to 4G is happening and we are now at the cusp of superfast 5G internet . Amidst this supersonic digital shift , our lives are almost entirely shifting online . We work on our smartphones , school on our smartphones and it is the same device that meets most of our entertainment needs . We applaud your foresight in wanting to increase access to M-PESA within the online payment space using the M-PESA Super App and that ’ s great .
News reaching tech desk however , is that mightier Goliaths : Amazon , Google and Facebook have smelt the coffee and want in on the party . Are you ready to rumble ? Kenyans are glued to the next beautiful chapters of the : transforming lives by connecting people to people , people to opportunities and people to information story .
Chabala Walter is a sales , marketing and communications consultant . Commune via LinkedIn on his page Chabala Walter or drop a line on mail at : Chabalawalter @ gmail . com .