M-PESA (M to have mobile, pesa try Swahili for the money) is a cellular telephone-based money transfer, funding and small financing solution, revealed inside 2007 by Vodafone to have Safaricom and you may Vodacom. Moreover it offers parents a lot more of an explanation to get cellular mobile phones because of their college students without the real importance of getting them airtime. Collymore oversaw the brand new inclusion for the market of various cellular money products that has because of the business control among their competition. In the November 2012, Safaricom married having NCBA Financial and you may developed an excellent “revolutionary” financial unit, M-Shwari, which allows Meters-Pesa users to keep and you can borrow money because of mobile when you are generating focus to your money saved experiencing a keen underdeveloped monetary characteristics business.
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