METRO

how much does person who invented MPESA earn ?

Published

2 weeks ago

June 22, 2024

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M-Pesa hit the ground running and has aided the banking system and many other industries while making life easier for Kenyans. Over a decade later, the topic of who invented M-Pesa has been a source of debate for most Kenyans

M-Pesa was launched in 2007, and Kenyans heeded Michael Joseph’s advice regarding their phone memory status. Upgrading a phone might have cost less time, but visiting the Kenya Central Bank to register for M-Pesa seemed absurd. Michael Joseph’s M-Pesa’s original business plan was to garner 350,000 customers in the first year. However, the then-CEO pushed his team, and by the end of the mobile money service’s first year, the company had over a million M-Pesa active users. But has since exceeded expectations

There has been conflicting information regarding the person who invented M-Pesa. It is alleged that it was a Jomo Kenyatta Institute of Agriculture and Technology (JKUAT) student. The name of the student who invented M-Pesa is Nyagaka Anyona Ouko. This means he was just given one time compensation and currently does not benefit because he sold out copyright ownership

Anyona Ouko Nyagaka didn’t have enough resources to run it so he passed over the idea to Michael Joseph who gave him a wholesome rewards and a copyright certificate. The system was however advanced by Nick Hughes and Susie Lonie who used foreign help to bring it up. The product was later sold to Safaricom PLC at 2 Billion Kenyan shillings.

Others have linked the M-Pesa idea to Nick Hughes. Nick allegedly created the service in 2003…Click Here To Continue Reading>> …Click Here To Continue Reading>>

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He was then working as the head of social enterprises at Vodafone. Hughes had in 2003 proposed the delivery of financial services over the mobile phone. In 2005, he got funding from UK’s Department for International Development to the tune of KSh. 140 million.

Former Safaricom CEO Michael Joseph has opened up about how the telco’s popular mobile money platform M-Pesa came into existence.

Speaking at a business forum in Nairobi, Joseph stated that M-pesa was conceptualized by Nick Hughes, the co-founder of asset financing platform M-KOPA, when he served as the Head of Social Enterprise at Vodafone, which owned 40% of Safaricom, in 2003.

There is conflict on who founded mpesa but it’s important to note that mpesa is now fully owned by Safaricom and the founder don’t earn anything as they sold out copyright ownership

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METRO

How The People of Ara-Ekiti Committed Mass Suicide To Avoid Enslavement in 1855

Published

11 mins ago

July 7, 2024

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The mass suicide was initiated by the leader of Ara town, Alara Elejofi, who (with the help of his first son) destroyed his properties, killed his family and himself. Many other households in the town replicated this act, and when the Ibadan army arrived with their wide array of weaponry, they turned back at the gory sight of dead bodies that littered the town…Click Here To Continue Reading>> …Click Here To Continue Reading>> READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

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METRO

19-Year-Old Girl Beaten For 4 Hours Because She Wouldn’t Get Boyfriend Cigarette

Published

15 mins ago

July 7, 2024

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This past summer, Kelsie Skillen, 19, was beaten by her boyfriend, James McCourt, 19 in Glasgow, Scotland. Kelsie, a makeup artist, shared pictures of her injuries on Facebook.

McCourt had locked her in the house and beat on her for four hours…Click Here To Continue Reading>> …Click Here To Continue Reading>> READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

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METRO

Mother says boyfriend forced her 5-year-old daughter to put uriine-soaked socks in her mouth and then pulled it out so aggressively that two of her teeth fell out, but that’s not the worst of it!

Published

39 mins ago

July 7, 2024

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Prosecutors said the 23-year-old mother, Katrina, and her 27-year-old boyfriend Jose forced her 5-year-old daughter to put uriine-soaked socks in her mouth and then pulled it out so aggressively that two of her teeth fell out.

But, unfortunately, that’s not the worst of it! Last week, the mother pleaded guilty to her role in the death of her 5-year-old daughter. Prosecutors said the mother pleaded guilty to a first-degree felony count of injury to a child causing serious bodily injury by omission, NYP reported…Click Here To Continue Reading>> …Click Here To Continue Reading>> READ FULL STORY HERE>>>CLICK HERE TO CONTINUE READING>>>

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