Safaricom has unveiled its most significant overhaul of the M-PESA mobile money platform in nearly a decade, marking what the company describes as a pivotal moment in Africa’s financial technology journey.
The upgrade, dubbed Fintech 2.0, is designed to expand capacity, improve resilience, and integrate artificial intelligence (AI) to enhance services across M-PESA’s vast ecosystem. It represents the largest transformation since 2015 and underscores the telecom operator’s ambition to position M-PESA as the backbone of Africa’s digital economy.
M-PESA, launched 18 years ago, has grown from a simple money transfer service into one of Africa’s most important financial tools, facilitating payments, savings, credit, insurance, remittances, and e-commerce. Today, the platform processes billions of transactions annually, making it central to daily life and business operations across the continent.
With the new upgrade, the system’s capacity will expand from handling 4,500 to 6,000 transactions per second, with scalability up to 12,000 as demand grows. Safaricom says this will ensure faster, more reliable services while preparing the platform for future innovation.
“This upgrade is a bold investment in the future of M-PESA and reaffirms our commitment to innovation, resilience, and customer trust,” said Dr Peter Ndegwa, Group CEO of Safaricom. “By moving to Fintech 2.0, we are unlocking a platform that not only scales to meet today’s demands but also anticipates tomorrow’s opportunities.”
A key feature of Fintech 2.0 is the integration of advanced AI to strengthen fraud detection, enable real-time monitoring, and support self-healing systems that minimise service disruptions. The upgrade also introduces an active-active architecture across multiple hosting sites, ensuring minimal downtime even in the event of technical failures.
Since its launch in 2007, M-PESA has played a transformative role in financial inclusion, particularly in Kenya, where it is used by over 30 million people. The service has been credited with lifting millions out of poverty by giving them access to mobile-based banking for the first time.
M-PESA expanded rapidly and, by 2010, had become the most successful mobile-based financial service in the developing world. By 2012, Kenya had registered around 17 million accounts, reflecting its widespread adoption.
In Tanzania, Vodacom had opened 7 million accounts by June 2016. The service has been widely praised for providing millions with access to the formal financial system while also helping to reduce crime in societies that were previously reliant on cash transactions. The new platform is expected to support this legacy by providing the scale and flexibility to meet the growing demands of Africa’s digital economy. As more businesses and individuals rely on M-PESA for transactions, savings, and investments, the upgrade will enable Safaricom to deliver faster and more secure financial services.
The timing of the upgrade also reflects Safaricom’s regional ambitions. With M-PESA already operational in countries including Tanzania, Ghana, Mozambique, and the Democratic Republic of Congo, the company is eyeing further expansion across Africa.
By scaling M-PESA’s infrastructure, Safaricom is not only preparing for increased transaction volumes but also strengthening its position in the race to dominate Africa’s fintech landscape. Competitors such as Airtel Money and traditional banks are also expanding digital services, intensifying competition in the sector.
The move comes as Africa’s fintech market continues to attract global attention, with investors pouring billions into startups seeking to capture the continent’s young, mobile-first population. By leveraging its established dominance, Safaricom hopes to remain at the centre of this fast-evolving ecosystem.
Do you have any story or press releases you want to share? Send tips to editor@envestreetfinancial.com
Follow us on Twitter, Facebook, or LinkedIn to ensure you don’t miss out on any