Safaricom PLC has committed a significant Sh40 billion ($300 million) to transform M-Pesa into an even more powerful and secure platform.
This major investment, announced by Safaricom Group CEO Dr. Peter Ndegwa, is centred on the rollout of M-Pesa 2.0, which promises to improve system reliability, security, and user experience for millions of users across the continent.
For nearly two decades, M-Pesa has been at the forefront of Africa’s mobile money revolution.
The platform, which now supports over 70 million users in over 170 countries, has reshaped the way people manage their finances.
In Kenya, M-Pesa is integral to over a million businesses and agents, supporting a variety of financial transactions on a daily basis. Expanding beyond Kenya’s borders, the service is now available in Ethiopia, Tanzania, Mozambique, the Democratic Republic of Congo, Lesotho, Ghana, and Egypt.
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M-Pesa’s immense scale is evident in the staggering 100 million transactions it processes daily, with the platform boasting the ability to handle up to 4,000 transactions per second.
At the heart of this success is the developer-friendly Daraja platform, which has fostered a vibrant ecosystem of over 100,000 developers and over 55,000 API integrations.
These capabilities have made it possible for businesses to rapidly innovate and offer tailored digital solutions.
The M-Pesa 2.0 upgrade is designed to build on this foundation, providing more opportunities for fintech startups, businesses, and enterprises to expand their digital services.
With this upgrade, Safaricom plans to push the boundaries of financial inclusion across Africa, making mobile money even more secure, accessible, and scalable.
As Safaricom continues to grow M-Pesa into an even more critical tool for financial empowerment, the company is reaffirming its commitment to driving economic transformation on the continent.
With the launch of M-Pesa 2.0, the platform is poised to remain a central pillar of Africa’s mobile banking infrastructure for years to come.
