A book that outlines the development of Safaricom’s mobile money transfer system M-Pesa is planned to be sold to the public via Amazon and Kindle devices.
With over 18 million users in Kenya, mobile money has attracted worldwide attention because of its success in the East African nation.
The system moves KES 77.3 billion (US$0.9 billion) per month in peer-to-peer transactions. A further KES 9.9 billion (US$0.1 billion) is moved in person-to-business transactions while person-to-business transactions account for KES 7.6 billion (US$0.08 billion) a month, Safaricom has said.
Tonny Omwansa, a lecturer at the university of Nairobi, and Nicholas Sullivan, a senior fellow at the Centre for Emerging Market Enterprises, have authored the book titled, “Money, Real Quick - The story of M-Pesa”.
Funding for the book has come from Rockefeller.
“M-Pesa has put Kenya and Africa at the forefront of ICT innovation and is a reference for many other countries that plan to implement a mobile money payment platform. M-Pesa is indeed one of the ways that we have been able to fulfill our aspiration to Transform Lives,” Safaricom’s general manager of financial services, Betty Mwangi-Thuo said.
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