M-PESA (Meters to have mobile, pesa try Swahili for the money) is actually a cell phone-dependent money transfer, investment and you will micro funding service, revealed in the 2007 by Vodafone to have Safaricom and you will Vodacom. Moreover it provides moms and dads a lot more of a description to find mobile phones for their college students out any actual dependence on getting them airtime. Collymore oversaw the brand new introduction to the market of various cellular money products that have considering the business control certainly one of their competitors. Inside the November 2012, Safaricom married NCBA Financial and you can developed a “revolutionary” financial equipment, M-Shwari, enabling Meters-Pesa consumers to keep and borrow funds as a result of mobile while you are generating desire for the money stored tapping into an enthusiastic underdeveloped economic characteristics business.
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