By the 254.ke Newsroom. Updated 27 October 2026.
Safaricom chief executive Peter Ndegwa says M-PESA’s next phase is to move beyond payments into savings, investing and insurance. In an interview with Victoria Rubadiri for CNN’s Marketplace Africa, he said the aim is to “broaden and democratise access so you can either pay, you can save, you can invest, you can insure using M-PESA.” No new product, price or launch date was announced. Two of the four areas are already live; insurance is the thinnest.
What can you already do on M-PESA besides send money?
| Area | What exists today (as of 27 October 2026) |
|---|---|
| Pay | Send money, till and Pochi La Biashara payments; Fuliza overdraft offered with KCB and NCBA. |
| Save | M-Shwari and KCB M-PESA savings accounts. |
| Invest | Ziidi money market fund (from Ksh100, daily interest) and Ziidi Trader, which lets users buy and sell NSE-listed shares from a phone. Ziidi Trader was built with the Nairobi Securities Exchange and Kestrel Capital. |
| Insure | Safaricom Insurance Agency has sold cover since August 2024. Cover is bundled with phones sold in Safaricom shops, and home insurance is an add-on for Home Fibre customers. |
Tech-ish reports that by March 2026 savings and investment products held about Ksh21.0 billion for 2.2 million active customers, up from 600,000 a year earlier. That is the outlet’s reading of Safaricom’s figures; Safaricom’s own release for the interview does not give a customer breakdown for each product.
What did Ndegwa actually say?
Three points stand out in the interview coverage from TechMoran and Tech-ish.
- Banks and insurers are partners and rivals. Ndegwa described them as competitors that are also partners, which fits the current model: Safaricom distributes, regulated firms hold the money or underwrite the risk.
- Scale. He put M-PESA at about 150 million transactions a day. Safaricom’s published figure for the year to March 2026 is 46.4 billion transactions, roughly 127 million a day, so 150 million is his current estimate rather than a reported result.
- Fraud and AI. “We can’t manually be able to prevent fraud if we didn’t have AI and we have a data layer,” he said. He also said Safaricom spends roughly $400 million to $500 million a year on Kenyan infrastructure.
How big is M-PESA to Safaricom’s business?
For the year to 31 March 2026, M-PESA revenue rose 13.4 per cent to Ksh182.7 billion, about 45.6 per cent of Safaricom’s Kenya service revenue, according to TechMoran. Group net income rose 67.3 per cent to Ksh99.7 billion, excluding hyperinflation accounting. Capital FM, citing Safaricom’s sustainability report, reports M-PESA generated an estimated Ksh478.1 billion in social value and that 57.8 per cent of transactions carried no charge.
Does the Safaricom ownership case affect this?
The interview coverage notes that control of Safaricom is in dispute. Vodacom completed the purchase of an additional effective 20 per cent on 30 June, taking its holding to about 55 per cent. On 15 September the High Court voided the government’s sale of a 15 per cent stake, finding that it handed Vodacom control. Vodacom remains the registered holder while the Court of Appeal handles the main appeal. Read our reports on what the stake ruling means for customers and on the appeal court’s refusal to suspend the ruling. Nothing published ties the dispute to M-PESA’s product plans.
What should customers watch for?
Safaricom’s half-year results, covering April to September, should show whether transaction volumes and savings balances have grown since March. Any new savings or insurance product would sit alongside regulation of payment services, which is under review in the National Payment System Bill 2026. Investment products carry risk, and returns on money market funds are not guaranteed. The Capital Markets Authority publishes investor guidance and licensed-firm lists.
FAQ
Is M-PESA launching a savings or investment product?
Not a new one, so far as published. Ndegwa described a direction of travel. Savings (M-Shwari, KCB M-PESA) and investing (Ziidi, Ziidi Trader) are already available.
What is Ziidi?
Ziidi is a money market fund on M-PESA that accepts deposits from Ksh100 and pays interest daily, according to Tech-ish.
Can you buy shares through M-PESA?
Yes. Ziidi Trader, run with the Nairobi Securities Exchange and Kestrel Capital, lets customers trade NSE-listed securities from the app.
How many transactions does M-PESA handle?
Ndegwa cites about 150 million a day. Safaricom’s published figure for the year to March 2026 is about 127 million a day.
Does M-PESA offer insurance?
Limited cover. Safaricom Insurance Agency has sold policies since August 2024, mainly device cover and a home add-on for Home Fibre customers.
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