Safaricom’s M-PESA Gears Up for the Future with Historic Platform Overhaul
Safaricom Plc, a leading force in African digital innovation, is undertaking its most significant M-PESA platform upgrade in ten years. This ambitious overhaul is set to revolutionize the mobile money ecosystem, dramatically boosting M-PESA’s processing power from 4,500 to an impressive 12,000 transactions per second. This strategic move solidifies M-PESA’s position as a cornerstone of financial inclusion and digital finance across Kenya and East Africa.
Unveiling Fintech 2.0: M-PESA’s New Core
The heart of this transformation is the introduction of the new Fintech 2.0 core, a state-of-the-art, cloud-native, and AI-powered system. This technological leap is engineered to deliver several critical enhancements: it will significantly reduce downtime, massively expand capacity to handle growing transaction volumes, and accelerate the rollout of new products and services. Crucially, the upgraded platform embeds real-time fraud detection capabilities and self-healing tools, ensuring unparalleled security and reliability for its vast user base. M-PESA’s impact on the Kenyan economy is undeniable, currently serving 34 million Kenyans and generating a remarkable 161 billion shillings ($1.25 billion) in revenue in the year leading to March. This mobile money giant has been instrumental in elevating financial inclusion in the country from a mere 26.7% of adults in 2006 to an astounding 83.7% today. Safaricom, Kenya’s largest company by market value, reported a total revenue of 388 billion shillings in its last fiscal year. According to CEO Peter Ndegwa, “This upgrade is a bold investment in the future of M-PESA. The platform not only scales to meet today’s demands but also anticipates tomorrow’s opportunities.”
This monumental upgrade underscores Safaricom’s strategic commitment to expanding its digital finance footprint across East Africa. By investing in a resilient, high-capacity, and intelligent platform, M-PESA is poised to continue its legacy of innovation, driving economic growth and deepening financial access for millions, while setting new benchmarks for mobile money services on the continent.
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