Kenya momsex cell
M-Pesa (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania.
It has since expanded to Afghanistan, South Africa, India and in 2014 to Romania and in 2015 to Albania.
This would enable microfinance institutions (MFIs) to offer more competitive loan rates to their users, as costs are lower than when dealing in cash.
The users of the service would gain through being able to track their finances more easily.
By June 2016, a total of 7 million M-Pesa accounts have been opened in Tanzania by Vodacom.
The service has been lauded for giving millions of people access to the formal financial system and for reducing crime in otherwise largely cash-based societies.
In 2002, researchers at Gamos and the Commonwealth Telecommunications Organisation, funded by Department for International Development UK (DFID), documented that in Uganda, Botswana and Ghana, people were spontaneously using airtime as a proxy for money transfer.
Safaricom however convinced the student and bought the rights of ownership of this project hence becoming the sole owners of the patent rights.
M-Pesa is operated by Safaricom and Vodacom, mobile network operators (MNO) not classed as deposit-taking institutions, such as a bank.
M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
When the service was piloted, customers adopted the service for a variety of alternative uses and complications arose with Faulu, the partnering MFI.
In discussion with other parties, M-Pesa was re-focused and launched with a different value proposition: sending remittances home across the country and making payments.