Safaricom's M-Pesa among top 10 most influential financial projects in last 50 years
Kenyan mobile network operator's money transfer service M-Pesa has been recognised as one of the top ten most influential finance projects of the last 50 years by the Project Management Institute, the company said on Tuesday.
The 12-year old mobile phone based service was among more than 1 000 projects considered by a group of 400 leaders in the global project management community.
The project list identified efforts that changed the world, shaped lives and altered the DNA of the organisations and companies that launched them.
“This recognition further underlines M-Pesa’s commitment to our customers and its transformation to the country which has seen financial inclusion in Kenya grow by more than 50 percent in the last 12 years to stand at more than 82 percent today,” Safaricom CEO Michael Joseph said.
In addition to its contribution to the growth in financial inclusion in Kenya, M-Pesa has also been credited with financial transformation.
In 2017, economists from the Massachusetts Institute of Technology and Georgetown University found that the service lifted more than 195 000 Kenyan families from extreme poverty by empowering customers with the agency to receive money from any other phone user in the country.
M-Pesa impact extends through its ecosystem of more than 1 100 suppliers, 400 active dealers and more than 167 000 agents who benefict directly from the service.
It has contributed up to KES 75-billion (Kenyan shillings) in revenue to Safaricom and has grown to serve more than 26-million active customers.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation