M-Pesa listed as top 10 most influential finance projects of last 50 years

M-Pesa has been listed among the ten most influential finance projects to have been invented within the last 50 years.

An event held in Philadelphia saw economists from Massachusetts Institute of Technology (MIT) and Georgetown University laud M-Pesa for alleviating 195,000 Kenyan families from extreme poverty.

“This recognition reflects the incredible progress we have made in the project management profession and demonstrates how the fabric of our world has been shaped and continues to be shaped, by the hard work of bringing ideas to life. This list demonstrates PMI’s vision of how excellence in project execution will be critical in meeting the challenges and opportunities of tomorrow ,” said Sunil Prashara, President and CEO of Project Management Institute (PMI).

A Safaricom report notes that M–Pesa has 1,100 suppliers, 400 active dealers and more than 167,000 agents who benefit directly from the service.

The mobile money transfer service reportedly contributed up to Ksh.75 billion in revenue to Safaricom and currently serves 26 million active customers.

PMI noted M-Pesa beat more over 1000 projects that sought to be listed among the Top 50 most influential projects globally.

Speaking after receiving the award, the company’s interim CEO Michael Joseph, said: “We are honored to receive this accolade and global recognition which is a true testament to our impact on society. This recognition further underlines M-Pesa’s commitment to our customers and its transformation to the country which has seen financial inclusion in Kenya grow by more than 50 percent in the last 12 years to stand at more than 82 percent today.”

PMI, that is celebrating its 50th anniversary, serves 2.9 million professionals including over 500,000 members in 208 countries around the world.

The firm offers services such as development of standards, research, education, publication, networking-opportunities in local chapters; hosts conferences and training seminars and provides accreditation in project management.

It has 300 chapters and 10,000 volunteers serving local members in over 80 countries.