Book detailing foundation of Mpesa launched

A book detailing the foundation of mobile money transfer service M-pesa has been launched. Titled money real quick, the book also shares the impact of the service that is today part of Kenya’s history. Co-authored by Tonny Omwansa, a lecturer at the University of Nairobi and Nicholas Sullivan, a senior fellow at the Centre for emerging market enterprises. Launched in Kenya seven years ago, M-pesa has to date attracted 18.2 million customers and is estimated to be process transactions worth 77.3 billion shillings every month. Excerpts from the book indicate how commercial banks initially resisted the platform which today is a common feature in the banking industry.

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