Sam Adekunle
Startup Programs | Product Management | AI
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Why is M-Pesa so Successful as a Fintech? M-Pesa is a mobile money service that was launched in Kenya in 2007 by Safaricom. It has since become one of the most successful mobile money services in the world, with over 25 million active users in Kenya, Tanzania, Mozambique, and Egypt.M-Pesa is a convenient and affordable way to send and receive money. Transactions can be made quickly and easily from anywhere with a mobile phone, and there are no fees for sending or receiving money within Kenya. In 2021, M-Pesa processed over 22 billion transactions, with a total value of over $100 billion.M-Pesa is accessible to a wide range of people. There are over 100,000 M-Pesa agents located throughout Kenya, making it easy for people to deposit or withdraw money, even in rural areas. In 2021, over 70% of Kenyan adults used M-Pesa.M-Pesa has had a significant impact on the lives of Kenyans. It has made it easier for people to save and access financial services, and it has helped to reduce poverty. In 2021, M-Pesa was used to save over $1 billion by Kenyans. It has also been used to promote economic growth, by making it easier for businesses to operate and for people to buy and sell goods and services. In 2021, M-Pesa was used to facilitate over $50 billion in economic activity in Kenya.M-Pesa is a success story that has the potential to be replicated in other countries. It is a model for how mobile money can be used to improve the lives of people in developing countries.Here are some additional details about the factors that have contributed to M-Pesa's success:- Strong customer demand: M-Pesa was launched in response to a clear need for a convenient and affordable way to send and receive money in Kenya. The country has a large informal economy, and many people do not have access to traditional banking services. M-Pesa filled this gap and quickly became popular. In 2007, only 26.7% of Kenyans had access to formal financial services. By 2021, that number had risen to over 75%.- Favorable regulatory environment: The Kenyan government has been supportive of M-Pesa and has created a regulatory environment that is conducive to its growth. This has helped to ensure that M-Pesa is a safe and secure service. In 2007, the Kenyan government passed the M-Pesa Act, which established a regulatory framework for mobile money services.- Widespread mobile phone penetration: Kenya has one of the highest rates of mobile phone penetration in the world. This means that a large number of people have access to M-Pesa, which has helped to drive its adoption. In 2021, over 90% of Kenyans had a mobile phone.- Effective marketing and promotion: Safaricom has invested heavily in marketing and promoting M-Pesa. This has helped to raise awareness of the service and to encourage people to use it. In 2007, Safaricom launched a massive marketing campaign for M-Pesa. The campaign included television commercials, radio spots, and print ads.
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Sam Adekunle
Startup Programs | Product Management | AI
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I’m anticipating this one. 🔥
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Sam Adekunle
Startup Programs | Product Management | AI
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🎉 Here is a quick recap of our incredible evening at AICamp London Meetup! 🎉A big thank you to everyone who joined us at Tech Junction, London, for a night packed with AI insights, engaging talks, and fantastic networking!Here’s a deeper dive into the highlights:🌟 JP Hwang (Weaviate): JP took us on a journey through the evolving landscape of Generative AI. He demoed how 'tool use' can make Retrieval-Augmented Generation (RAG) models smarter, enabling more precise and context-aware AI outputs. Attendees were captivated by the live demos showcasing practical applications of RAG in enhancing AI capabilities! JP’s technical talks are always a delight.🌟 Shekhar Patnaik (GitLab): Shekhar’s session on "Agentic Workflows" gave us a deep dive into using AI for automating repetitive development tasks. He discussed the integration of open-source tools, creating efficient workflows that empower developers and product managers to focus on innovation rather than routine tasks. His demo featured an agentic workflow of a todo app development process; the tool broke down the workflow, executed the code, tested it, fixed the errors, and generated the code by itself. I was blown away.The audience was engaged with interactive examples of how these workflows can accelerate productivity and reduce overhead.The energy, curiosity, and passion from the AI community were truly inspiring. Looking forward to more such amazing events!RSVP for our next meetup happening on Sept 19th - https://lnkd.in/erSYQskEDavid Tang | Tibor Ormosi | Bill Liu#AI #MachineLearning #GenerativeAI #Networking #TechMeetup
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Sam Adekunle
Startup Programs | Product Management | AI
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Join us tomorrow, at our monthly AICamp Meetup in London!We're bringing together developers, data scientists, AI researchers, tech enthusiasts, and innovators at the AI Camp Meetup! Whether you’re a seasoned pro or just starting in AI, there’s something for everyone.What’s on the agenda?🎤 JP Hwang (Weaviate) will uncover the power of Generative AI and RAG in enhancing AI capabilities.🎤 Shekhar Patnaik (GitLab) will explore “Agentic Workflows” to automate development tasks and foster open-source innovation.📍 Where: Tech Junction, London🕕 When: Tomorrow, 6:00 PM BSTLet’s connect, learn, and grow together!Tickets are free 🔗 https://lnkd.in/eN5nAeswBill Liu, Tibor Ormosi, David Tang #AI #MachineLearning #GenerativeAI #Networking #TechMeetup
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