M-PESA (M to possess mobile, pesa are Swahili for money) is actually a cellular telephone-based money transfer, investment and you may small investment service, revealed within the 2007 by Vodafone to own Safaricom and you may Vodacom. In addition, it provides moms and dads a lot more of a reason to get cellular mobile phones for their pupils without the actual importance of having them airtime. Collymore oversaw the newest inclusion for the market of numerous cellular currency products that provides because of the organization power one of their competition. Within the November 2012, Safaricom married that have NCBA Bank and you will created a good “revolutionary” banking tool, M-Shwari, that enables Yards-Pesa customers to save and you may borrow money due to mobile while you are generating interest to the money stored experiencing an underdeveloped financial characteristics industry.
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