Kenya’s leading mobile service provider, Safaricom, has launched a fresh financial product designed for teenagers and pre-teens aged between 10 to 17 years.
On Saturday, Safaricom launched M-PESA Go, enabling its users to enjoy the same services M-PESA customers do.
“It will enable users to send and receive money, buy airtime and bundles, use Lipa na M-Pesa services, and access a customized version of the M-Pesa Super App dubbed M-Pesa Go Apps,” read the statement.
However, Safaricom said the product would restrict some services such as withdrawals, access to digital loans, forex payments and payments to betting platforms.
“To safeguard users, M-Pesa Go restricts services such as withdrawing money, access to digital loans, and betting or forex payment,” Safaricom said.
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Speaking at the M-PESA Go launch, Safaricom CEO Peter Ndegwa said the telco is planning to introduce a financial literacy platform that will equip young Kenyans with money-managing tools.
“As M-Pesa we are committed to empowering and transforming the lives of everyone, and in M-Pesa Go, we are providing a revolutionary product designed for youngsters, but with oversight by parents or guardians. Leveraging the M-Pesa Super App, we plan to introduce a financial literacy platform that will equip children with tools for managing money,” Ndegwa said.
Safaricom said it seeks to empower parents and guardians to raise a financially sound generation that is braced for a cashless world.
The platform offers parental features such as transaction limits settings, and monitoring and tracking features that parents and guardians can use to guide their children.
