2022 Sustainable Business Report

48 | SAFARICOM SUSTAINABLE BUSINESS REPORT 2022 KPI SUMMARY OUR STAKEHOLDERS OUR BUSINESS OUR MATERIAL TOPICS • Downloading ‘mini-apps’ within the app to complete tasks like ticket booking, deliveries, shopping, licence applications and insurance from businesses, government agencies, utilities and other firms. • Fingerprint, face unlock, transaction authentication and detailed usage statements. • An M-PESA ‘Send to Many’ option where customers can make multiple transactions to different recipients but only need to enter their PIN or authentication once. • Requesting a specific amount from a friend or family member or someone who owes a user money, with the sender only needing to confirm the transaction by keying in their PIN. To drive inclusivity and promote the inclusion of unserved markets, we developed Halal Pesa , a shari'ah-compliant digital product for savings and credit. There were over two million opt-ins during the reporting period. In line with our focus on expanding our customers’ digital lifestyles, we introduced the M-PESA Global Pay Virtual Visa Card linked to customers’ M-PESA accounts. The M-PESA GlobalPay virtual card enables payments to International online merchants for goods and services using the virtual card details. M-PESA statements for customers and merchants now have a Safaricom e-stamp on every page. This eliminates the need for travelling to retail shops to get statements stamped. The service incorporates a unique alpha-numeric code at the bottom of every page, empowering banks, Savings and Credit Co-operative Societies (SACCOs) and financial services institutions (FSIs) to confirm the statement's validity. Fuliza M-PESA is a service that allows M-PESA customers to complete their M-PESA transactions when they have insufficient funds in their M-PESA accounts. We have opened lines of credit by enabling customers to use Fuliza to buy airtime via M-PESA. Fuliza M-PESA enabled a total of 1.4 billion transactions totalling KSh 502.6 billion in value. Our Pochi La Biashara product allows for a second wallet attached to small business owners’ M-PESA lines. This enables food vendors, small kiosk owners, boda-boda operators, and second-hand clothes dealers to receive and separate business funds from personal funds on their same M-PESA line. This service now has over three million signed-up micro businesses with more than 170 000 monthly active users. Revenue generated in FY22 was KSh 80 999 088. The Business Transacting Till is an extension of the existing Lipa na M-PESA Buy Goods Till that enables small business owners to collect payments on their till and use this money to make other payments directly from their till. Such payments include wages/ salaries, the withdrawal of funds from an M-PESA agent, the sale of airtime to customers and the earning of commission without needing to go to the bank or phone as was the case with the original Buy Goods Till product. During the reporting period, there were 169 763 monthly active users and we achieved revenue of KSh 827 018 589, with values for these secondary transactions growing by 85% year-on-year. PROMOTING FINANCIAL INCLUSION As indicated in the table on the following page, M-PESA revenue grew because of increased customer uptake of Pochi la Biashara, Business Till, increased usage of Fuliza and the roll-out of the M-PESA Super App and its continued growth. However, M-Shwari revenues declined. This was due mainly to increased credit offerings in the market and the conservative bank approach to lending due to non-listing of low value loans, based on the government directive not to list loans below KSh 3 million.