1. Safaricom/
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CASE STUDY

2. case study / patagonianews / quarterly round-up
transformative telco
case study / safaricom /

3. In Kenya if you want to transfer money you don’t
need to rely on your bank. If you want medical
advice, you don’t need to visit the doctor’s clinic.
And if you want to light your home you don’t need
to find an energy supplier. Instead, Kenyans can
call on telecommunications company Safaricom.
Not only the nation’s biggest telco, but also its
biggest company by market value, Safaricom is
devoting itself to building services that improve
the lives of the 19 million Kenyans it counts as its
customers /
By Chloe Markowicz
Brand DNA
Founded /
2000
HQ /
Nairobi, Kenya
stores /
36
Employees /
2,660
Product /
Mobile telecommunication services:
voice, messaging, data and fixed
broadband
MISSION /
Transform lives
WHY CONTAGIOUS /
Rooted in Kenyan culture, it has
created mobile-powered services
that improve people’s quality of life in
areas such as health, medicine and
energy provision
CASE STUDY
Safaricom /
Transformative Telco /
Bob Collymore,
Safaricom
'Our success is not
measured by the profits we
make but by the difference
we make.’
48 / 49contagious

4. case study / safaricom /
For Kenyans, the mobile phone is
such a lifeline that some will forgo
buying soap or sustenance so that
they can add credit to their handsets.
A 2012 study by iHub Research and
Research Solutions Africa found that
20% of Kenyans earning under $2.50
a day were ready to make real sac-
rifices, including going without food,
so they could buy airtime.
While few people own a laptop in Sub-Saharan Africa, cell-
phone ownership has been rising dramatically. According to
global mobile association GSMA, it has climbed from just
1% in 2000 to 54% in 2012. What’s more, The Economist
reported last year that there are 74 mobiles for every 100
Kenyans, compared with the African average of 65. Mobile
technology provides a source of economic and social
empowerment for Kenyans, and no company understands
this better than local telco Safaricom.
SERVICING CUSTOMERS /
Safaricom has developed services based around the mobile
phone, including payments platform M-PESA, that have had
a radical effect on Kenyan society. ‘Safaricom is the catalyst
that has transformed the country at grassroots level,’ says
Gaurav Singh, who was general manager of Safaricom’s
digital marketing agency Squad Digital before becoming
chief digital officer of Scangroup, which owns the agency.
‘Although it started as a telecommunications company, it is
providing services to each and every sector.’
Price wars / Safaricom’s services help the company differ-
entiate itself within the competitive telecoms market. ‘To a
certain point all mobile phone companies are essentially the
same in terms of coverage and technology,’ says Safaricom
CEO Bob Collymore. ‘So, where do you compete? Well, the
only place left to compete is price.’
Yet Safaricom is hesitant to be dragged into a price war,
even charging customers up to 30-40% more than its com-
petitors Airtel, Essar and Orange. Safaricom had launched
its mobile payment system M-PESA (pesa is Swahili for
money) back in 2007, but it was only when Indian-owned
Airtel entered the African market in June 2010 that Safa-
ricom felt pushed to focus more on services. ‘Airtel bought
out 16 African telco companies and had the largest Pan-
African presence in the market,’ says Singh. ‘Everyone knew
that they had deep pockets and were going to fight on price.
So instead of [doing] that, we added more layers of value on
top of our products.’
Safaricom is the catalyst that
has transformed the country
at grassroots level. Although it
started as a telecommunication
company, it is providing services
to each and every sector.
Gaurav Singh, Scangroup

5. contagious 50 / 51
UNDERSTANDING KENYANS /
As a local company, Safaricom is perhaps better placed
to understand the Kenyan customer than its foreign com-
petitors. M-PESA, for example, became successful in part
because the service answered an unmet local need, provid-
ing financial services to Kenyans who do not have access to
a bank account. Last year the service, which enables cus-
tomers to use mobile airtime to transfer money to relatives or
even pay bills, accounted for nearly a third of the company’s
profits.
‘Because our staff [of around 2,660 people] is almost
100% Kenyan we understand how Kenyans think and
behave and what motivates them,’ says Collymore, even
though he himself isn’t Kenyan. A native of Guyana, Col-
lymore was educated in the UK and previously worked for
British Telecom and for Vodafone in the UK and Japan.
Local identity / The company was founded as part of the
state-owned Kenya Posts & Telecommunications Corp. It
was incorporated in 1997 and then began its commercial
operations as Safaricom in 2000. While UK telco giant
Vodafone has a 40% stake in the company (alongside the
Kenyan government’s 35% stake) Collymore says that since
Safaricom is a Vodafone affiliate, not a subsidiary, it enables
the company to retain its Kenyan identity.
Collymore contrasts this with Safaricom’s competi-
tors who all have foreign parentage: France Télécom owns
Orange, India’s Bharti owns Airtel, while Essar is owned by
Indian company Essar Telecom. ‘They are tempted to take
what’s worked in other markets and try to bring it here,’ says
Collymore. The CEO explains that Safaricom is instead
focused squarely on the needs of Kenyans, in particular low-
income citizens. Safaricom’s services are therefore based
more around ‘life and livelihood, versus lifestyle’, says Singh.
MOBILE MONEY /
M-PESA / M-PESA has been successful because so many
Africans live in rural areas and have limited access to banks
(in 2009 the World Bank reported that 70% of people were
unbanked or underbanked). To transfer money via M-PESA,
Safaricom customers do not need a bank account, bank
card, or smartphone. Instead they purchase electronic funds
via one of the 55,000 M-PESA agents across the country.
The recipient can then retrieve the money in cash from an
M-PESA agent near them. Users can withdraw, deposit,
or send between 50 Kenyan shillings (KES) ($0.58) and
KES70,000 ($807) per transaction.
M-PESA has more than 15.2 million active users in Kenya
(the country has a population of 41 million) and sees around
KES80bn a month ($922m) transferred between accounts,
which represents more than 30% of Kenyan GDP. Windsor
Holden, research director at UK-based research firm Juniper
Research, says that while M-PESA has many would-be imita-
tors, it flourished in Kenya for two key reasons: ‘Firstly, due to
Safaricom’s pre-eminence within the marketplace; second,
what has been referred to as a regulatory attitude of “benign
neglect”. Many mobile network operators have found finan-
cial regulators far less amenable when it has come to the
establishment of a mobile payments service.’

6. case study / safaricom /
Mobile saving and loans / Building on the success of
M-PESA, in November 2012 Safaricom launched a service
enabling its customers to save money and apply for loans
using their mobiles. The M-Shwari service was created in
collaboration with the Commercial Bank of Africa. Despite
legal accusations (vehemently rejected by Safaricom) that
the service breaches the intellectual property rights of micro-
finance institution Faulu Kenya, Safaricom customers have
embraced the service. So far M-Shwari has accumulated
more than one million registered users and deposits of nearly
KES1bn ($11.6m).
M-Shwari encourages a culture of microsaving as it
allows customers to deposit as little as KES1 ($0.01).
To be eligible for an M-Shwari
loan, which can be as much as
KES100,000 ($1,160), users
must be a Safaricom customer,
have used M-PESA for at least
six months, and have depos-
ited money into their M-Shwari
accounts. Customers get a 7.5%
interest rate and must pay back
their loans in full after one month,
rather than in instalments.
TRANSFORMING LIVES /
Mobile solar power / Collymore claims that M-PESA
wasn’t set up to make money but to ‘transform lives’ and
that has been Safaricom’s mission. In the energy sector,
Safaricom has helped improve the lives of its low-income
customer base by making solar power not just accessible
but affordable. It partnered with mobile-tech company
M-KOPA (whose founders and senior management worked
on M-PESA) to create a pay-as-you-go solar power service
powered by M-PESA; this is a useful invention for a country
where 70 to 80% of the population has no access to the
electricity grid.
The system works via a solar panel on the roof that con-
nects to a control box in the customer’s house and can
charge a phone and power three light bulbs. Users pay on
an instalment basis and can monitor their remaining credit
through their phones. Safaricom is able to help customers
at the bottom of the economic pyramid because it is familiar
with how these people live day to day. ‘We understand the
need for a child to have light at night so they can do their
homework,’ says Collymore. ‘We understand the need to
charge a mobile phone. The only way to charge a phone in
much of Kenya is to pay someone KES10 ($0.12).’
Services such as M-KOPA can help Safaricom remain
relevant in a market that is approaching saturation. ‘Safari-
com’s key challenge is to sustain or enhance ARPU [average
revenue per user] in the face of a costs base which will con-
tinue to rise,’ says Windsor Holden of Juniper Research. ‘It
has thus far been noticeably successful in this regard thanks
to the expansion of M-PESA into a range of related areas,
together with the launch of services such as m-health and
e-learning.’
Simon Andrews, founder of London-based mobile agency
addictive, suggests that western telcos can learn from Safa-
ricom’s model. ‘Safaricom saw a consumer problem that
needed fixing – people found it hard to get money back to
their family,’ he says. ‘They realised they could solve one of
their business problems – customer acquisition and churn –
if they helped people move money around. Western telecoms
need to take the same approach and be customer-centric,
understanding what their problems are and solving them.’
M-HEALTH /
If Safaricom’s mission is to transform lives it would be foolish
not to consider what the company can do to improve health-
care in the region. Safaricom is
not the only African telco to realise
what a powerful tool the mobile
phone can be within the healthcare
sector. The patient to doctor ratio
in Kenya is about 10,000 to one;
with most doctors living in urban
centres, the 30 million Kenyans
living in the countryside have little
or no access to medical facilities.
However, almost every adult (70%
of the population) has a mobile.
To provide customers with
better access to medical advice, Safaricom created mobile
health tool Daktari 1525 (daktari is Swahili for doctor). The
telco teamed up with medical advice hotline Call-a-Doc to
enable their customers to receive medical advice by calling
1525 on their handsets. The calls are subsidised by Safari-
com and cost KES10 a minute to cover the doctors’ fees.
In its first four months the service received 80,000 calls,
amounting to 703 calls a day. Daktari 1525 won the Purpose
award at the Most Contagious event in London in December
2012.
GIVING BACK /
Services like Daktari 1525 and M-KOPA help build the com-
pany’s reputation as caring about the community. ‘It’s not
that I want to be here as a philanthropist,’ says Collymore,
‘but the mobile is a really powerful piece of technology, so
how can we use it to improve society?’
Charitable initiatives are in fact a major facet of
Safaricom’s public image and an important tool in its commu-
nications arsenal. ‘We know that we are charging a premium,
but at the same time we are standing up for the causes that
are at the heart of each and every thing that happens in our
customers’ daily lives,’ explains Scangroup’s Singh. ‘Our
charitable work keeps the focus away from cost and towards
what we are doing for society at large.’
Safaricom’s corporate responsibility endeavours are
anchored by both the Safaricom Foundation and the M-PESA
Foundation. ‘We work in health, education, environmental
conservation, economic empowerment, disaster response,
and do water projects,’ says Sanda Ojiambo, Safaricom
head of Corporate Responsibility.
Number of M-Shwari
registered users
Cellphone ownership
in Sub-Saharan Africa
in 2012, up from 1% in
2000
1 million
54%
Western telecoms need to
take the same approach
and be customer-centric,
understanding what
[consumers’] problems are
and solving them.
Simon Andrews, addictive
Monthly amount
transferred via
M-PESA
$922m

7. contagious 52 / 53
'The mobile is a really
powerful piece of
technology, so how can
we use it to improve
society?.’
Bob Collymore, Safaricom
We know we are charging
a premium but at the same
time we are standing up
for the causes that are at
the heart of each and every
thing that happens in our
customers’ daily lives.
Gaurav Singh, Scangroup

8. case study / patagonia
Frictionless
voting
Positive
shopping
experience
'not
business
as usual'
36 stores
nation-
wide
case study /safaricom /
Digitising Kenya’s elections
Ahead of Kenya’s elections in March,
Safaricom worked with the country’s
electoral commission to develop
technology to make the voting process
more frictionless. Safaricom created an
app that informed voters of their nearest
polling station and an online platform to
help simplify registration.
As Contagious went to press the
upcoming elections presented a real
threat to Kenya’s stability and there were
fears that the violence of 2008 would be
repeated. The government announced
it would be monitoring social media for
abusive or threatening language. Anyone
found inciting violence or using hateful
language on Facebook or Twitter could
face up to three years in prison. ‘There’s
a lot of attention on the elections,’
says Victoria Kaigai, Safaricom head of
Corporate Communications and PR. ‘It’s
not business as usual.’
Safaricom’s retail structure
Most people’s first engagement with
Safaricom is at one of the brand’s 36
stores nationwide. Safaricom has invested
heavily in building good experiences at its
retail outlets, ensuring that the stores are
colourful and airy. ‘In Africa we have a
very oral culture. We’re not like in Europe
where people are happy to do everything
online only,’ explains Kaigai. ‘People still
want to walk into a Safaricom Shop, they
want to call customer care and talk to
someone.’
In addition to the Shops that sell
handsets, laptops, and accessories,
Safaricom has 400 stores run by
authorised dealers that exclusively sell
low-cost handsets and Safaricom airtime.
Across the country Safaricom also has
around 250,000 retailers that mainly sell
airtime in smaller denominations.

9. contagious 54 / 55
Kenyans for Kenya / One of Safaricom’s most success-
ful CSR campaigns encouraged Kenyans to use the telco’s
mobile payment system to help their fellow citizens. In July
2011 a drought in northern Kenya caused the country’s
worst famine in six decades. Safaricom partnered with the
bank KCB Foundation and media owners on a campaign that
used M-PESA to help the Red Cross raise funds for food
and medical aid.
The campaign saw close to 650,000 Kenyans donating
through M-PESA, raised KES677m ($8m) and generated
KES216m ($2.5m) in free publicity.
Bring Zack Back Home / Last year Safaricom again used
M-PESA as a fundraising tool, this time to help raise money
for a spinal injury rehabilitation centre. Though spinal injuries
are increasingly common in Kenya as a result of road acci-
dents or shootings, there is no proper rehabilitation centre in
the country, with the closest one being
in Cape Town, South Africa.
To raise the necessary KES250m
($3m), Zackary Kimotho, backed by
Safaricom and the Kenya Paraple-
gic Organization, vowed to travel the
4,000 kilometres from Nairobi to Cape
Town in his wheelchair. Once an up-and-coming veterinarian,
Kimotho was paralysed as a result of an attempted carjack-
ing attack in 2004.
Supporters could follow his progress via a tracker on
the Bring Zack Back Home website, watch videos of Kimo-
tho telling his story and engage with content on Twitter and
Facebook. Braving extreme weather conditions and aggres-
sive drivers, Kimotho returned home after travelling 115
kilometres. The first phase of the campaign ended when the
fundraising license ran out and, while it’s unclear when the
second phase of the campaign can start, Kimotho was able
to raise KES73m ($839,566) in 60 days, enough to pur-
chase the land for the new rehabilitation centre.
Speaking out about road safety / Safaricom’s current
CSR focus is a three-year programme to improve road safety,
since more than 3,000 Kenyans die in road accidents each
year. Through the Toa Sauti (‘speak out’) initiative, Safaricom
has come together with government agencies, the police,
and private companies, to help make Kenyan roads safer and
discourage dangerous behavior, such as calling or texting
while driving.
The programme encourages people to report accidents
and hazardous drivers or commend good driving by dialing
*700#. They can also report dangerous areas on the road by
adding them to a Google map on the Toa Sauti website and
social network sites. ‘We’re looking at it as a way of empow-
ering people to correct bad behaviour,’ says Victoria Kaigai,
Safaricom’s head of Corporate Communications and PR.
DIGITAL COMMUNICATIONS /
Safaricom is highly active on social media. This represents
a big change from a few years ago when Safaricom’s digital
strategy revolved around pushing people to its online prop-
erties through online ads, rather than via content platforms,
says Singh of Scangroup.
‘About 10 million Kenyans go online, that’s one out of
every four Kenyans,’ says Kaigai. Safaricom is the most pop-
ular Kenyan brand on Facebook (with more than 224,000
fans), has more than 88,630 followers on Twitter, and is
active on Google+ and YouTube.
According to a McKinsey survey, social networking is the
most popular online activity for Africans and 57% of inter-
net users reported that they used social networking sites
‘often’. Kenyans are particularly heavy users of social media.
In Kenya, Singh says, there are two million active Facebook
users and Kenyans spend about eight hours a week on
social networks, compared with a global average of eight
hours a month. It is therefore an obvious choice for Safari-
com to engage on social media, particularly when reaching
out to younger customers.
Safaricom relies on its long-running events to help pop-
ulate its social media content. These include the Running
Wild Marathon, Niko Na Live
– a music road show featuring
Kenyan artists – and the Safari-
com Sevens rugby tournament.
‘These events reinforce our
position as a truly Kenyan com-
pany,’ says Kaigai. The events
help create cachet for the brand amongst the youth, both at
the live events and through its digital assets.
Transparency / While Safaricom understands the impact of
social media in communicating en masse to its customers,
it is only now coming to grips with the challenges involved.
‘You can’t hide anything when it comes to social media,’
says Kaigai. Speaking about the wrath that Safaricom faced
from its young consumers when it withdrew unlimited data
bundles, she adds: ‘Social media has allowed us to talk to
people we wouldn’t have talked to before. But we’ve also
got the venom of people who maybe wouldn’t have reached
us before.’
‘We can’t simply rely on conventional media to get our
message across,’ says Safaricom CEO Collymore, who
has almost 95,000 Twitter followers. ‘We now have to get
involved in a conversation with people.’
FUTURE GOALS /
Making a difference / In 2012 Safaricom’s total revenue
rose 13% to KES107bn ($1.24bn) and its customer base
grew 11% to 19.1 million, but CEO Collymore is loath to
gloat about financial accomplishments. ‘Our success is not
measured by the profits we make, but by the difference we
make,’ he says. His goal is for Safaricom to remain relevant
to Kenyan society and provide an example of corporate lead-
ership as a company that can transform people’s lives. ‘We
don’t set out to be the cheapest network in Kenya. We do
however set out to be the network that makes the biggest
difference. We still have 65% or so of the market despite
being more expensive than our competitors and the reason
for that is the transformative effect that we set out to have. I
think Kenyans know that we’re in this together.’
225,000
Number of Kenyans
who go online
10 million
I think Kenyans know that
we’re in this together.
Bob Collymore, Safaricom
Number of Safaricom’s
Facebook fans
Time spent per week
by Kenyans on social
networks. The global
average is eight hours a
month
8 hours

10. contagious
analyst insight /
SAFARICOM /
By Danson Njue, Informa /
Analyst
Insight
Safaricom represents Africa’s success story of a local
mobile telecom that, against all odds, has become a
leading converged services provider. Its passion for
innovation and service delivery has seen it grow its
mobile subscriptions to more than 19 million, maintaining
the market lead. Kenya’s telecom industry regulator
reports over 29 million mobile phone users, with
Safaricom representing more than 60% of the total.
Safaricom’s secret to maintaining and attracting
customers lies in great customer service and the
introduction of new products and services. M-PESA, a
mobile money transfer service, has provided Safaricom
with the perfect tool to attract and retain customers. Its
advanced 3G+ network offers a great data experience to
its customers when compared with its competitors.
However, increased competition as a result of the 2010
price wars is challenging Safaricom’s position as the
market leader. Deteriorating quality of services (QoS)
also threaten Safaricom’s position. The latest reports
by the industry regulator listed Safaricom as the worst
operator in 2012 in terms of QoS. To counter this,
Safaricom has adopted various measures including a
reduction in its operating expenditure as well as an
undertaking to expand its network and improve quality.
According to research firm Ipsos, Safaricom reduced
total ad-spend from KES3.1bn ($35m) in 2011 to
KES1.6bn ($20m) in 2012. Despite this, Safaricom is
still ahead of its competitors in terms of the amount of
advertising spend.
Safaricom has adopted various strategies in response
to pressure from competitors. By evolving M-PESA
into an integrated mobile finance service that is being
bundled with other services, such as bill payments,
Safaricom continues to improve its customer loyalty.
This has enabled the company to greatly reduce overall
churn rates; Safaricom recorded a churn rate of 27.9%
in the financial year ending 31 March 2012, compared
with 30.8% the previous year. M-Shwari, Safaricom’s
mobile saving and loans service, has recorded great
success, registering about 20 new users per minute,
and surpassed KES1bn ($11.5m) in transactions one
month after its launch. Safaricom also plans to launch
an app-store to tap into the local app market, which will
enable it to launch relevant content to its customers. It
is also involved in massive network upgrades, especially
to rural un-served and under-served areas, to increase
its subscriber numbers and subsequently boost its
market share.
Safaricom's future looks very promising. Competition in
the data market is expected to intensify and Safaricom
stands in a better position when compared to its rivals.
Danson Njue / Research Analyst /
Informa Telecoms & Media, Nairobi
www.informa.com
56 / 57
Photo/SvenTorfinn

11. case study / safaricom /
Brand Map / safaricom
Challenge / Solutions /
PAYMENTProtect market share amidst competition
from an aggressive new entrant.
Maintain high price position and increase
average revenue per user (ARPU).
Use brand equity to connect to Kenyans.
Reduce churn by investing in services. Safaricom’s mobile payment system
M-PESA has dramatically altered the
lives of unbanked Kenyans, making it
possible for them to send and receive
money using just their phones. The new
M-Shwari service builds on M-PESA’s
success by allowing users to save and
borrow micro-sums.
Although Safaricom’s target consumers
are at the bottom of the economic
pyramid, the company prefers to charge
up to 30-40% more than its competitors
rather than get dragged into a price war.
PRICE
SOCIAL MEDIA
When it comes to digital communications
Safaricom is active on a host of social
media networks including Facebook,
Twitter, YouTube, Google+ and Instagram.
The brand’s social media strategy
involves populating its online assets with
content from its events, including the
Running Wild Marathon, the Safaricom
Sevens rugby tournament, and the Niko
Na Live music road show.
Value-added services in other sectors
from M-KOPA, which offers affordable
solar power, to Daktari 1525, a medical
advice hotline that reaches out to
Kenyans who do not have access to
a doctor, help build loyalty amongst
Safaricom customers. These vital
services, available only to customers,
justify the premium price point.
SERVICES PARTNERSHIPS
Whether it comes to its services or
charity initiatives, the company relies
heavily on smart collaborations with
appropriate partners. M-Shwari, for
example, was made possible through
a partnership with the Commercial
Bank of Africa, while Daktari 1525 was
developed through a partnership with
medical phone service Call-a-Doc.
The telco takes corporate social
responsibility seriously. Whether this
is raising funds to help drought victims
(Kenyans for Kenya) or building a
paraplegic rehabilitation centre (Bring
Zack Back Home), Safaricom is
dedicated to bettering its community.
CHARITY
LET US JOIN HANDS AS KENYANS FOR ONLY
KSH 1 A DAY AND SUPPORT THIS NOBLE CAUSE.
I, Zack, was injured 8 years ago
through a gunshot incident and I
have been confined to a wheel chair
since then. I have embarked on a
wheel chair journey to the nearest
rehabilitation centre in South Africa.
It costs Ksh 10M to rehabilitate a
spinal injury patient. If we had our
own rehabilitation center in Kenya,
fellow Kenyans would not have
to struggle to raise money to seek
rehabilitation away from home and
family. I am doing this to get your
contribution to raise Ksh 250 Million
in 60 days for the construction of a
similar facility here in Kenya. I am
now in Isinya, please do not let me
get to the Kenyan border.
BringZackBackHome.co.ke
Donation period between June 9 and August 7, 2012.
BRING
ZACK
BACK
HOME
Advertising Space Donated by The Star
Our success is not measured by the
profits we make, but by the difference
we make. We don’t set out to be the
cheapest network in Kenya. We do
however set out to be the network that
makes the biggest difference. We still
have 65% or so of the market despite
being more expensive than our com-
petitors and the reason for that is the
transformative effect that we set out to
have. I think Kenyans know that we’re
in this together.
Bob Collymore, Safaricom

12. contagious 58 / 59
Takeouts /Results /
Place livelihood over lifestyle. Where
public services might exist but don’t,
explore the potential of delivering branded
solutions.
Understand your customer and use the
power of local insight. Consider their day-
to-day challenges and how your brand
can improve their lives.
Value partnerships. By teaming up with
the right collaborators, Safaricom was
able to expand into new revenue areas
outside the telecommunications industry.
Build services. Useful services can extend
a brand’s offering, create differentiation
in a crowded market, and help maintain
price point.
19.1 millionThe number of Safaricom mobile subscriptions
39,400
The number of M-PESA agent outlets. M-PESA has
14.9 million customers, 900 paybill partners and
300 bulk payment partners
67%
Safaricom’s market share
Safaricom’s total revenue,
up 13% for the year
ending March 2012
The number
of devices that
Safaricom sold in
the year ending
March 2012
KES107.00bn
($1.24bn)
Because our staff are almost
100% Kenyan we understand how
Kenyans think and behave and
what motivates them.
Bob Collymore, Safaricom
2.98 million
Growth in M-PESA’s
registered customers
for the year ending
March 2012
6%
KES16.87bn
($193.9m)
M-PESA revenue for the year ending March 2012