KENYA: Safaricom adds 500,000 M-Pesa users in two months to 34m

Safaricom Adds 500,000 M-Pesa Users in Two Months, Reaching 34 Million

Nairobi, Kenya – Safaricom, Kenya's leading telecommunications company, has expanded its M-Pesa user base by 500,000 in just two months, bringing the total number of users to a record 34 million.

This milestone reinforces M-Pesa’s position as a dominant player in Kenya’s mobile money market and highlights its growing appeal across various demographics. The service, which allows users to send and receive money, pay bills, and access financial services, continues to be a vital part of the country’s economy, facilitating over 60% of Kenya’s daily financial transactions.

In a statement, Safaricom attributed the growth to continuous innovation, enhanced customer experience, and strategic partnerships that have broadened the service’s reach and usability. Recent improvements, such as simplified account registration and expanded service offerings, have made M-Pesa more accessible to both urban and rural users.

The rise in M-Pesa users comes amid increasing competition in the mobile money space, with Safaricom maintaining its leadership through consistent investment in technology and infrastructure. The service has also gained traction beyond Kenya, with successful deployments in other African markets.

Industry analysts view the sustained growth of M-Pesa as a testament to the growing reliance on digital financial solutions, particularly in underserved areas. Safaricom's efforts align with the government’s agenda to promote financial inclusion, bridging the gap for millions without access to traditional banking services.

Safaricom CEO Peter Ndegwa remarked on the achievement, saying, “Our focus remains on delivering unmatched convenience, reliability, and innovation through M-Pesa. We are committed to empowering individuals and businesses across Kenya and beyond.”

As M-Pesa continues to expand, its role in driving Kenya’s digital economy remains pivotal, underscoring Safaricom’s impact on the financial landscape in the region.