President William Ruto has talked about an exciting partnership in the works.
It involves M-Pesa, which is Safaricom’s mobile money service, teaming up with tech giant Apple.
The goal is to make M-Pesa even more widespread, reaching people all around the world.
The President shared this news after a visit to Silicon Valley in San Francisco Bay, USA, on a Saturday.
He mentioned that this partnership will also include PayPal, another big payment company that serves customers globally.
President Ruto praised M-Pesa for its success in Africa.
It has over 51 million users and is available in seven different countries.
He also highlighted how M-Pesa’s growth is crucial, especially after Safaricom introduced the super-fast 5G internet network in Africa.
“You will hear Sitoyo Lopokoiyit give his presentation on M-PESA, the mobile money innovation that has transformed payments, challenged traditional banking services, and innovatively solved transactional security issues,” the President noted.
“M-PESA is also Kenya’s confident announcement to the world that we are ready, able, and willing to play in the big tech league.
Our mobile penetration is the highest on the continent, close to universal.
4G5G coverage is 96%, with major urban centers across the country connected to 5G networks.”
During his visit, the President met with Tim Cook, the CEO of Apple, as well as Pat Gelsinger from Intel, Ruth Porat from Google, and top executives from Nike, GAP, and Levi Strauss.
He encouraged these tech leaders to invest in Kenya because it’s becoming a hub for startups in Africa.
“The reason for Kenya’s strong performance in attracting VC funding boils down to investor confidence: the knowledge that a start-up that succeeds in Kenya is highly likely to scale to the rest of Africa,” he said.
“Venture capital flows to Kenya in large volumes because there is a conducive environment for innovators to test their products.”
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