Safaricom Plc will allocate USD 177 million over the next three years to enhance the capacity of its M-PESA platform, Chief Financial Officer, Dilip Pal, announced during the Nairobi Securities Exchange’s first investor roadshow.
The upgrade aims to double M-PESA’s processing power, which already supports over 95 million daily transactions at a speed of 4,000 transactions per second. Since its launch, the mobile money platform has grown into one of the world’s leading fintech services.
M-PESA has seen rapid growth in Ethiopia, where registered users climbed to 10.8 million by the end of December 2024, compared to 3.1 million the previous year. The surge has been fueled by the popularity of airtime purchases and cross-border money transfer services. In Kenya, M-PESA now connects more than 50 million people.
Speaking on a panel about market entry and investment trends, Pal highlighted that Safaricom has invested over USD 2 billion in Kenya and more than USD 1 billion in Ethiopia within the past five years. He emphasized that the company remains committed to investing in infrastructure and innovation to create long-term shareholder value while broadening financial inclusion across the region.
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