Safaricom’s mobile-money platform M-Pesa has gained more profit from the additional transaction of the government cash transfer program having processed Sh700 million payments under Inua Jamii, in January.
According to new disclosures by the operator, the transfers benefitted an estimated 300,000 persons enrolled in the programme at the end of the period.
Disbursements under the State cash transfer programme switched to the M-Pesa platform from January this year, following a December 2023 presidential directive.
President William Ruto ordered the shift on Jamhuri Day last year, saying it would save beneficiaries from the hassle of long distances, costs and inconveniences associated with bank transfers.
Safaricom expects to reach two million beneficiaries under the Inua Jamii programme by the end of September this year.