A Look At How Technology Could Let Africa Bloom

A Look At How Technology Could Let Africa Bloom

On any corner in Nairobi on any given day, the future of African commerce can be seen in action.From the most basic of feature phones, right up to sophisticated smartphones, M-Pesa, a mobile money service, has revolutionized how people pay each other money and do their daily financial transactions.

Since M-Pesa was pioneered by Safaricom -Kenya’s largest mobile operator with some 70% market share – it has expanded to 29.5 million active customers in 10 markets.

From AllAfrica. Story by

They did a whopping 6 billion mobile money transactions in 2016, according to parent Vodafone, which recently sold Safaricom to its South Africa-based subsidiary Vodacom.

In 2015, M-Pesa processed $28 billion in transactions, about 44% of the country’s nearly $65 billion GDP.

Some 25 million Kenyans use the service.

Read more at AllAfrica.