M-PESA Eco-system Wins High Praise From Visiting Barbados Prime Minister

Safaricom (NSE: SCOM)’s M-PESA ecosystem has won accolades from visiting Barbados Prime Minister Mia Mottley.

Speaking at the Michael Joseph Center, Premier Mottley described Kenyan fintech products as inspiring and ethical and said they are admirable “because they are driven by the desire to help people.”

“This is one of the most inspiring presentations I have seen since I became the Prime Minister of my Island Nation, largely because it is driven by the desire to meet people where they need to be met,” said PM Mottley.

The Premier was conducted on a tour of products from the “Silicon Savannah” by Central Bank Governor Dr. Patrick Njoroge who invited the leader to the Afro-Asia Fintech Festival which will take place in Kenya June 2020.

Safaricom Chief Special Projects Officer Joe Ogutu, Chief Financial Services Officer Sitoyo Lopokoiyit, Kenya Bankers Association Chairman Joshua Oigara and Equity Bank Kenya CEO Gerald Warui participated in the exhibition tailor-made for the visiting premier.

Prime Minister Mottley invited Kenyan innovators and businesses in the fintech ecosystem to visit her country in early 2020 to share their knowledge and experiences.

“I look forward to our working together and welcome you to Barbados in the first two months of 2020,” said Hon. Mottley who afterwards visited roadside traders and an M-PESA shop to see how customers use the products.

The exhibition took her on a tour of product demos by teams from Safaricom KCB, Kwara, Lami, M-KOPA Solar, Pula, Stawi and Digifarm, on products that are built on the M-PESA platform.

Mr Lopokoiyit said that M-PESA has revolutionized financial inclusion in Kenya by bringing traditional financial services to more than 27 million customers through their mobile phones.

“The lesson here is that we can never go wrong by focusing on our customers. It is this dedication and focus on our customers that has distinguished Safaricom and that endears us to our customers. Success comes from ensuring that those around you, those within your ecosystem also succeed,” said Mr Lopokoiyit.

“Besides, we are open to share our learnings, experience and expertise, to spur financial inclusion in other markets. We welcome delegations such as the Barbados team, as through sharing our knowledge, we learn ways to improve M-PESA further,” said Mr. Lopokoiyit.