“Transformative technology” is an overused term, but it fits very precisely Kenya’s M-Pesa money transfer service that makes it possible for people without bank accounts or easy access to banks to transfer money and pay for goods and services. It is operated by Safaricom, a mobile phone service provider. Almost half the population of Kenya uses M-Pesa. The students tells us about the impact M-Pesa has had on Kenya’s economy. The “M” in M-Pesa , by the way, stands for “Mobile” and “Pesa” means “money” in Swahili.
