Sitoyo Lopokoiyit MBS, CEO of M-ESA Africa, on the far right, presented on the mobile money platform at the World Governments Summit on a panel titled "Are Emerging Markets Leading the Digital Evolution?"

Every day, M-PESA extends over $55 million in credit with a nonperforming loan level of less than 2%, and the company asserts that it avoids driving over-indebtedness and focusses on a customer's financial well-being.

This is according to Sitoyo Lopokoiyit MBS, CEO of M-ESA Africa, who spoke at the high-level World Governments Summit on a panel titled "Are Emerging Markets Leading the Digital Evolution?" alongside other industry leaders such as Vikrant Bhansali - CEO, UBA Group, UAE, and Robert Thomson - SVP Global Government Engagement, Visa International Services Association, and moderated by Dubai Media's Katie Jensen.

Responding to the topic of why M-PESA has been so successful, he emphasised the critical impact mission of "Transforming Lives" has played.

Driven by this mission, M-PESA began by addressing rural-urban migration money transfer difficulties, and then moved on to a payment challenge, and finally global payments and remittances, her explained.

He went on to say M-PESA is also evolving from addressing individual financial difficulties to addressing corporate challenges, whether they are huge organisations, SMEs, or micro-SMEs.

He said: “Throughout, we prioritised consumer education, security, and expanding financial inclusion, and we are now focussing on financial health.”

Lopokoiyit MBS told the panel that M-PESA focuses on "purpose driven debt" by determining a customer's credit limit depending on how much they save and transact.

On whether M-PESA drives debt sustainability, Lopokoiyit explained that the company’s main focus in on "purpose driven debt" with a customer's credit limit based on how much they save and transact.

He continued: “In addition, we offer differentiated products such as Pochi La Biashara for micro-traders which enables them to borrow for their business, while a larger SME can get supply chain financing. Our lending is geared to a purpose rather than just lending for the sake of lending.

“Every day, M-PESA provides over $55 million in credit with a Nonperforming loan level of less than 2%. We ensure we aren't driving over-indebtedness and are focusing on a customer's financial health. “

Speaking on the future of M-PESA- Lopokoiyit MBS said partnerships and interoperability will be key.

He said: “M-PESA customers want to travel and use the service everywhere they go and customers from other financial services want to use those when they travel to M-PESA markets.”