Telecommunications giant Safaricom on Saturday launched a new financial product for teens and preteens aged between 10 and 17.
Dubbed M-Pesa Go, the new service seeks to empower parents and guardians to raise a financially healthy generation who are prepared for a cashless world, as well as improve digital money management and financial literacy among young Kenyans.
“It will enable users to send and receive money, buy airtime and bundles, use Lipa na M-Pesa services, and access a customized version of the M-Pesa Super App dubbed M-Pesa Go App. To safeguard users, M-Pesa Go restricts services such as withdrawing money, access to digital loans, and betting or forex payments,” Safaricom said in a statement.
Speaking during the launch, Safaricom CEO Peter Ndegwa, said: “As M-Pesa we are committed to empowering and transforming the lives of everyone, and in M-Pesa Go, we are providing a revolutionary product designed for youngsters, but with oversight by parents or guardians. Leveraging the M-Pesa Super App, we plan to introduce a financial literacy platform that will equip children with tools for managing money.”
The M-Pesa Super App, which contains monitoring and tracking features, and parental control features such as setting transaction limits, is the gateway through which parents and guardians can guide their children’s financial journey.
Kodris Africa, the provider of Kenya’s first-ever government-approved program for teaching coding, is one of the Mini-Apps available on the M-Pesa Super App.
Parents looking to get their children started on the coding journey have 60 days starting November 26th to purchase an annual Kodris Africa subscription via the M-Pesa App and enjoy 50 percent off.