Kenya’s pioneering mobile money service M-Pesa has announced the launch of new cross-border banking features, allowing users to send and receive funds seamlessly across East African countries. The expansion aims to facilitate trade, migration, and financial inclusion in the region.
Safaricom CEO Peter Ndegwa said at a press event:
“M-Pesa has revolutionized payments in Kenya. Now, we are taking it a step further by connecting neighboring economies and empowering millions to transact effortlessly.”
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The new services will enable users in Kenya, Uganda, Tanzania, Rwanda, and South Sudan to perform instant money transfers, pay bills, and access microloans across borders with minimal fees. Integration with local banks and regulatory compliance has been a key focus during development.
Economists expect this advancement to boost regional commerce and strengthen the East African Community’s economic integration goals. Small business owners and migrant workers, in particular, are set to benefit.
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