Mobile Banking

PEP has been very much an active player in Kenya's mobile banking revolution M-PESA, which has the potential to give the 'unbanked' masses access to financial services, and bring them into the formal economy.

In Kenya, where the majority still do not have bank accounts, M-PESA (Swahili for 'mobile money') has created an alternative to banks. M-PESA customers withdraw cash and make payments or send money by sms.

PEP is M-PESA's leading cash point in Western Kenya with a network of over 40 agencies (10 by the end of 2007).

PEP brings M-PESA in Mbale

PEP Mbale is the first M-PESA agent to commence operations in Vihiga, a rural district bordering the last remains of East Africa's rainforest. "We serve on daily basis over 100 customers. Most of them receive money on their phones from relatives living in Nairobi, who have jobs and sustain their families back at home" says Emma Manyurage, the in-charge at PEP Mbale. She is operating two tills (phones) with her colleague.

In February 2008 she paid out over Kshs 7 million 'Euro 70.000) in 2,500 transactions. "That is an average of Kshs 2,800 per customer", she adds. "Most of the money is used to pay school fees or just to buy food". It is widely acknowledged that more cash has been flowing in the village. "Local shops are happy with us, because their businesses have improved since we are here" argues Emma before she attends another happy customer.