Safaricom Plc says its mobile money service platform, M-pesa has clocked 40 million active users since launch 19 years ago.
This represents a 5.5pc increase when compared to 37.9 million active users the telco reported in half year period to September last year.
The platform which is Safaricom’s cash cow currently accounts for 45.4pc of total service revenue equivalent to Ksh 88.1 billion.
Reaching 40 million monthly active customers in Kenya is a milestone we celebrate, as we recommit to enable every Kenyan to transact safely, grow their savings, and build their wealth. To us, every M-PESA transaction tells a story of someone building their future,” said Peter Ndegwa, Safaricom Plc Chief Executive Officer.
M-pesa which became active in March 2007 designed to handle person-to-person money transfer service has expanded to investment and wealth management, credit services, and business solutions.
“M-PESA remains committed to ensuring that everyone has the confidence and tools to navigate life’s financial journey,” he added.
The telco says it has continued investments in technology, enhanced fraud-prevention systems, and customer education which have further strengthened M-pesa’s security, usability, and overall reliability for millions of Kenyans.
M-pesa currently has 319,330 agents countrywide while Lipa Na M-Pesa active merchants stood at 870,740 by close of September last year.
