M-PESA: using mobile phones to move money in Kenya
Address:
Kenya
, KE
Category: Radical Efficiency
Used in the following map:
IU
M-Pesa means mobile money in Swahili. In 2007, Safaricom (Vodafone’s Kenyan arm) launched a national money transfer service via mobile phones. Today, 35% of money transfers are undertaken via M-Pesa. This is unsurprising given that an M-Pesa transaction costs 27% less than the post office and 68% less then moving money by bus.
This was one of the ten projects featured in our radical efficiency report. To find out more go to: http://www.innovationunit.org/radicalefficiency.
