Mpesa (M for mobile, Pesa for Money in Swahili) is a mobile money transfer system that originated in Kenya. It allows users to send and receive money, store funds, and access financial services through their mobile phones. 

In this article, I delve into the success story of Mpesa and how the service has impacted lives and businesses across the continent. 

Mpesa Money Transfer Services

Mpesa was first launched in 2007 by Vodafone and Safaricom, the largest mobile network operator in Kenya. The service allows users to deposit or withdraw money, transfer money, and pay for goods and services in local currency.

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You can deposit or withdraw money from your account on your mobile phone with the help of registered agencies. You can also send money to other users and pay for goods and services using your phone. 

You don’t need a bank account to use their services. Simple access to a mobile phone will enable you to enjoy their services.

Other services you can enjoy on Mpesa include:

• pay bills
• Receive salary
• purchase airtime
• save currency in a virtual account
• borrow money to complete a transaction

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Mpesa Money Transfer Markets

Mpesa, which started in Kenya in 2007, has expanded to other markets and even used to operate outside Africa. As a leading mobile money service provider, it has access to over 604,000 active agents across the continent. It serves about 51 million African customers as of when writing this article. It used to serve customers in India, Romania, and Albania.

Mpesa is available in 7 African markets, including:

• Egypt
• Kenya
• Ghana  
• Lesotho 
• Tanzania
• Mozambique 
• Democratic Republic of Congo

According to Safaricom, Ethiopia is the newest country to enjoy Mpesa mobile money transfer services.

How to Use Mpesa

Sending and receiving money on Mpesa is simple, safe, and convenient. To send money to other users, simply dial 

• USSD code *334#
• Select send money
• Enter the recipient’s phone number
• Enter amount
• Confirm and accept the transaction
• Enter your Mpesa pin
• Receive confirmation message

Here are other apps you can use to send money to Kenya from abroad.

• Remitly
• Worldremit
• Lemond Finance app 

Transforming Lives: Mpesa’s Impact on Society

Financial Inclusion Beyond Borders

Mpesa quickly gained traction, primarily because it addressed a critical challenge – financial inclusion. With a significant portion of the population having limited access to traditional banking services, Mpesa offered a lifeline. People could now securely store money, send remittances, and even access credit all through their mobile phones.

Empowerment and Economic Growth

The impact of Mpesa extended far beyond convenience. It empowered individuals and small businesses, especially those in rural areas, by providing them with a platform for financial transactions. This empowerment increased economic activities, job opportunities, and overall growth in local economies.

Redefining Money Transfer

Traditional methods of sending money often involve lengthy processes, high fees, and security concerns. Mpesa revolutionized this by offering a seamless and secure way to transfer money. It not only transformed local economies but also caught the global community’s attention.

The Mpesa Money Transfer service has impacted a lot of lives, not only in Kenya. With over 51 million customers and counting, it has achieved its aim of financial inclusion serving underbanked and unbanked people.

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