Safaricom - 2021 Sustainable Business Report

46 SAFARICOM SUSTAINABLE BUSINESS REPORT 2021 / STANDING TOGETHER: GOING BEYOND //// OUR MATERIAL TOPICS / OUR STAKEHOLDERS / KPI SUMMARY OUR M-PESA PLATFORM M-PESA is a mobile financial services platform that provides money transfer, payments and access to credit for individuals and organisations. Our M-PESA platform incorporates numerous offerings which enhance financial inclusion and enable the transformation of lives. Our M-PESA services include, amongst others, a range of core and financial services across select customer groups. Our core services comprise domestic and international transfers, converting cash to e-money and vice versa, retail payments, bill and tax payments, and airtime and data purchases. Financial services range from loans, savings, and overdraft facilities to wealth management, insurance and bank transfers (where money can be transferred from M-PESA wallets to bank accounts in real time). We continuously innovate and form partnerships to improve and increase our service offering in a number of other sectors for more than 28 million customers in Kenya. PROMOTING FINANCIAL INCLUSION FY18 FY19 FY20 FY21 M-PESA No. of customers (Million: 30 day active) 20.5 22.6 24.9 28.3 No. of Lipa Na M-PESA merchants 102 337 122 879 172 561 301 597 Value of diaspora remittances through M-PESA Global (KSh billion) 94 119 158 289.7 M-SHWARI No. of customers (Million: active users) 3 262 955 3 985 120 4 662 652 3 977 177 Value of M-Shwari deposits (KSh billion)* 213.4 213.4 320 571.1 Value of M-Shwari loan disbursements (KSh billion) 83.3 97.5 129.6 94.5 FULIZA No. of transactions N/A** 46 357 358 392 891 348 787 133 367 Amount disbursed (KSh billion) N/A** 29 245 351 * Deposit balance (sum of monthly deposit balances) ** Fuliza only started in FY19 M-SHWARI is a mobile savings and loan service offered to M-PESA customers that enables them to open and operate an M-SHWARI bank account through their mobile phones. An increasing number of Kenyans are making use of this service, as indicated by the fact that deposits have more than doubled over the last four years. M-PESA’S EVOLUTIONARY JOURNEY February Safaricom launches M-PESA, a mobile money service and currently East Africa’s largest fintech platform 2007 March M-PESA Surepay to allow for e-wallet services such as the World Food Programme’s Chakula Chap Chap March KCB-M-PESA launched in partnership with KCB Bank May M-PESA migrates to G2 platform with servers relocated to Kenya 2015 April Safaricom and Vodacom gain full control of the M-PESA brand from Vodafone through a joint venture to accelerate M-PESA’s growth in Africa June Launch of a Lipa Na M-PESA for Business App to empower business owners with real-time tracking of their business performance September Number of businesses on Lipa na M-PESA cross 200,000 October Launch of Pochi La Biashara: A product that allows business owners to receive and separate business funds from personal funds on their M-PESA line. 2020 September Launch of Application Programming Interface (API) developer portal 2016 January Launch of an M-PESA Bill Management service January Reduction of M-PESA tariffs by up to 45% for lower value transaction bands 2021 November M-PESA Kadogo is launched 2017 November M-PESA Interactive Voice Response (IVR) for the visually impaired is launched 2018 January Launch of Fuliza: World’s first overdraft mobile facility March Partnership with Ant Financial Services to allow for online shopping from platforms such as AliExpress 2019 October M-PESA now has 1 million active users 2008 November Partnership with Western Union for IMTs 2009 May M-Kesho launched to connect customers with mobile banking July M-PESA now has 10 million active users October Nunua na M-PESA launched for payments of goods at supermarkets, this later becomes Lipa na M-PESA 2010 Partnership with I&M bank for M-PESA prepaid Visa Card 2011 August Kenyans for Kenya famine relief fundraising 2012 November M-Shwari launched in partnership with NCBA bank 2013