A lot has been said about MPESA since its launch to the Kenyan market in 2007. This service has revolutionized the way people live. It has become the Kenyan way of living, indeed the world's way of living. Mpesa started off as a money transfer service where by people could send money to each other. Before MPESA modes of sending money were limited and risky. For example urban people would put money in an envelope and give it to a bus driver to deliver it to their rural folks. Now all one needs is a Safaricom line and a basic phone that can send and receive a message.
The world's richest man, Bill gates has praised the Mobile money transfer service. He said that it was an innovation that would soon be embraced by the developed world. Bill gates in an article on his blog www.gatesnotes.com talks of how mobile banking will help the poor transform their lives. Bill gates who gives back most of what he earns to the poor through Bill and Melinda foundation is the latest to praise MPESA which has enjoyed accolade after accolade.
Key among things highlighted by Bill gates are the ability of the poor through innovative products like MPESA to be able to access financial services through mobile. The rural poor who do not have bank accounts and therefore cannot access financial services are faced with a myriad of problems including poor medical services and education for their children.
Bill gates says that in the next fifteen years digital banking will help the poor transform their lives and also empower them more.
MPESA being a fore runner and Kenya being the first country 2015 Is a strategic year and 15 years down the line Vision 2030 will be achieved by embracing digital mobile services that reach the people at the bottom line of the ladder.
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