Part 6/10:

M-PESA: Pioneering Financial Innovation

One of the hallmark innovations hailing from Kenya is M-PESA, a mobile money service launched by Safaricom in 2007. M-PESA has redefined financial transactions, enabling users to send money via mobile phones and promoting financial inclusion. This service has had a profound impact on poverty reduction by offering families stability through easily accessible financial services. Today, M-PESA operates in seven countries and has an impressive customer base, further solidifying Kenya's reputation in the fintech space.

The service exemplifies the country’s adaptability and innovation in addressing socio-economic challenges, particularly for low-income households, enabling them to utilize financial services with ease.