MILESTONE | The M-PESA Ecosystem Draws Over 60,000 Software Developers

M-PESA, the fintech platform operated by Kenyan telco, saw KES 40.2 trillion ($305.8 billion) worth of transaction value flowing through the system, Safaircom said in its latest earnings report.

“Velocity in the M-PESA ecosystem continues to grow driven by our FinTech solutions including payments, lending and savings and international remittances. FY24, the total value of M-PESA transactions grew 9.6% YoY to KES 40.2Trn while total volume of M-PESA transactions grew 35.1% YoY to 31.6Bn.”


Moreover, the MPESA super-app recorded over 9.6 million sign-ins with 1.6 million active users.

“We continue to leverage on our digital platforms and solutions such as M-PESA Super App for end-to-end excellent customer experience. We now have 9.6Mn Consumer App sign-ins, 1.6Mn Active Consumers and over 1.5Mn downloads on the businesses App.”

Safaricom launched the M-PESA Super App in 2021, said to be its transition into becoming a digital financial services provider connecting customers and businesses in a digital world.

The super-app, besides providing financial services also has third-party ‘mini-apps.’ Third-party services on-board include ticket booking, deliveries, shopping, license applications, insurance, etc. from businesses, government agencies, utilities and other firms, exposed to 32.1 million active customers in the ecosystem.


According to Safaricom, the M-PESA API ecosystem has over 61,000 developers leveraging M-PESA services for their applications, including many fintechs and banks operating in Kenya.

Most banks, such as Kenya Commercial Bank (KCB) and NCBA, have integrated M-PESA into business systems. Furthermore, M-PESA’s APIs have facilitated integration with significant African fintech institutions like Flutterwave and KopoKopo.

M-PESA is targeting 100,000 developers to be using the platform by 2025.

Newer M-PESA business segments are also growing, including Pochi, Mali, and Visa Card, with Pochi La Biashara (Business Wallet) seeing over 100% growth in the last financial year. The table below shows the growth in FY24 captured in the first column, compared to FY23, with the percentage change captured in the last column:


M-PESA, which now contributes over 40% of Safaricom’s revenue, is also drawing significant revenue by facilitating remittances, with its Global Payments solution bringing in KES 3.47 billion ($26.3 million) in the completed financial year.

Launched in FY19, M-PESA Global service enables M-PESA registered customers to send and receive money from countries across 170 countries in the world. M-PESA Global service remittance partnerships include:

• Western Union
• MoneyGram
• Ria
• WorldRemit
• Wave
• Remitly

among others.