Peter Ndegwa Leads Safaricom's 300 Million M-pesa Upgrade

Safaricom launches M-PESA 2.0 with 300 million investment to deliver faster, safer mobile money services across Africa.

The upgrade strengthens M-PESAs system resilience, boosts cybersecurity, and ensures zero downtime for over 70 million users.

Safaricoms regional growth continues with 15 revenue rise, Ethiopian expansion, and plans for Kenyas first telecom-owned submarine internet cable.

Safaricom, East Africas largest telecom operator led by Kenyan executive Peter Ndegwa, has unveiled a major 300 million investment to upgrade M-PESA, the regions most widely used mobile money platform. The new system, known as M-PESA 2.0, aims to deliver faster, more secure, and more reliable services to millions of users across the continent.

Ndegwa said the upgrade will strengthen M-PESAs backbone, making it more resilient and prepared for the future. Were committed to zero downtime and top-notch cybersecurity, he said. This is about giving our users peace of mind and a seamless experience as they go about their day-to-day lives.

This year, M-PESA marks 18 years since its launch, and it remains at the heart of Africas push for financial inclusion. The platform now serves more than 70 million users in over 170 countries. In Kenya, it supports over a million businesses and agents. M-PESA handles more than 100 million transactions every day and can process up to 4,000 transactions per second.

At the core of this growth is Daraja, M-PESAs developer platform. It connects more than 100,000 developers and supports over 55,000 API integrations, helping businesses create custom payment solutions. With the upcoming upgrade, Safaricom hopes to make this ecosystem even stronger, giving fintech startups, enterprises, and innovators the tools to do more, and do it faster.

Safaricoms success with M-PESA has helped the company grow far beyond Kenyas borders. Since its founding in 1993, the company has evolved into a major player in tech and financial services across the region. Under Ndegwas leadership, Safaricom has expanded into Ethiopia, where it now has more than 52 million subscribers despite ongoing economic hurdles.