Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

FinTech

M-Tiba puts Safaricom on Fortune's Change the World List

Article Image
Kenya's Safaricom has been ranked seventh on the 2020 Fortune Change the World List because of the positive impact of its long-term mobile money service, M-Pesa, and the newer healthcare-focused service, M-Tiba, which helps Kenyans pay for medical bills with their mobile phones.

The yearly Change the World List recognizes companies that have made a positive social impact through activities that are part of their core business strategy, this year listing 53 global change-makers.

Picture courtesy of Safaricom.
Picture courtesy of Safaricom.

"Safaricom's M-Pesa service lets its users, more than half of whom lack bank accounts, send and receive money digitally via feature phones. Now it's aiming for a similar inclusion revolution in healthcare," Fortune's write-up says.

In 2015, Safaricom launched M-Tiba through a partnership with startup CarePay and PharmAccess, to enable people to save, send, receive and pay for medical treatment through a mobile health wallet on their phone. It now reaches 4.7 million people in Africa and its importance has been highlighted by the COVID-19 pandemic.

"We are honoured to be included in this global list that recognises companies that are using their products and services to provide sustainable, shared value solutions to the communities they serve. M-Tiba has shown how, through partnerships, we can use the mobile phone to drive healthcare inclusion for millions of people," said Safaricom CEO Peter Ndegwa in a statement.

This year's number one change-maker was "The Vaccine Makers," referencing all the pharmaceutical companies who are collaborating to develop a COVID-19 vaccine. The second, third and fourth spots on the list were taken by tech companies Alibaba, PayPal and Nvidia. In seventh place, Safaricom was ranked right behind Zoom, the now-ubiquitous provider of videoconferencing tools.

The 2020 Fortune Change the World Top 10
Courtesy of Fortune.
Courtesy of Fortune.

Back in 2015, when the ranking first started, Safaricom and Vodafone were number one globally on the Change the World List for M-Pesa, ahead of Google, Toyota and Walmart.

In 2020, Safaricom was the highest ranked out of three African companies that made this year's list. The other two were both South African-based companies: Pretoria-headquartered Zutari which ranked 30th focuses on sustainable, Afrocentric infrastructure innovations; Johannesburg-based African Bank was ranked 46th. The bank reorganized in 2016 with a new strategy to offer low-cost banking for lower-income customers.

Launched in March 2007, M-Pesa now has over 24 million active customers and over 173,000 M-Pesa agent outlets across Kenya.

Paula Gilbert, Editor, Connecting Africa

Innovation hub

Story

Hot startup of the month: Ghana's Sumundi

Sumundi, a Ghana-based startup, has developed an online and offline based retail management and point-of-sale platform for physical retailers.

Story

Hot startup of the month: SA's FlexClub

South African startup FlexClub has launched a managed marketplace that helps independent drivers on digital platforms become vehicle owners.

More Innovation hub

Industry announcements

More Industry announcements

Latest video

More videos

AfricaCom perspectives

Story

AfricaCom Interview: Onica Makwakwa on closing the digital gender gap

The Alliance for Affordable Internet's head of Africa, Onica Makwakwa, shares her views on how to narrow the digital gender gap and the challenges keeping women offline on the continent.

Story

AfricaCom Interview: Tunde Fafunwa on how the ACIP is fighting COVID-19

Tunde Fafunwa from the UN Economic Commission for Africa explains how the Africa Communication and Information Platform (ACIP) is helping Africa's battle against COVID-19.

Story

AfricaCom Interview: Temidayo Oniosun on Africa's space and satellite industry

Space in Africa founder, Temidayo Oniosun, shares his views on the challenges and opportunities in the African space and satellite industry.

More AfricaCom perspectives

Partner perspectives

How mobile operators in Africa can address signalling threats and secure the network
By Katia Gonzalez, Head of Fraud and Security at BICS

SD-WAN and satellite how MNOs and telcos can enjoy the best of both worlds
By Ofer Asif, SVP BizDev, marketing and strategy at Spacecom

Africa's mobile operators need better roaming monetization for growth
By Damion Rose, product manager for Mobile Signaling and Roaming Solutions at BICS

All Partner Perspectives

Upcoming events

Africa Tech Festival
November 8-12, 2021
Virtual Event
More Upcoming events

Flash poll

All polls

Infographics

Safaricom Spark Fund Portfolio

Infographics archive

Slideshows

AfricaCom 2019 Preview

Slideshow archive

Like us on Facebook

Newsletter Sign Up


Sign Up