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M-Shwari Reaches 7M Users

Safaricom’s George Ndegwa said that Safaricom’s microfinance platform M-Shwari reached 7M users, speaking at the 2014 Mobile Money and Digital Payments in Johannesburg.

M-Shwari allows 19M M-pesa users to make use of system to take out loans and save money. M-pesa already attracted many firms who wish to sell their products in installments

“M-Shwari aims to promote a savings culture across all income levels and also including the people at the bottom of the pyramid,” Ndegwa said.

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