Safaricom launched an Android-based application that provides its subscribers with a simple financial journal to track their M-PESA transactions.
M-Ledger has been developed in partnership with a local start-up Dynamic Data Systems. “We strive to be the first to market with pioneering products that help transform the lives of our customers – but we are aware that we cannot innovate alone. Our partnership with Dynamic Data Systems signals our increasing commitment to build capacity in the local start-up community,” said Mr Bob Collymore, Safaricom CEO.
With the rapid growth in the use of M-PESA by organisations as a payments portal, M-Ledger provide an easily accessible accounting service that allows users to view and manage past transactions from their mobile phone.
Modeled on traditional ledgers as used in accounting, the solution provides historical data as well as an option to extract spreadsheet data. The application also has a universal search functionality allowing users to search for Paybill and Lipa na M-PESA till numbers.
M-Ledger was one of 18 applications developed during the inaugural 2013 Safaricom Appwiz Competition, which is aimed at building and nurturing mobile tech startups that create innovative, relevant and attractive solutions.
Participants in the competition were also provided with skills training in business planning, marketing, quality product development and financial management as part of the incubation period of the programme. “We launched the competition with the long-term intention of creating the foundation for a vibrant m-economy that is locally-driven. Today’s partnership cements the commitment we are making to continued partnerships to deliver that vision,” continued Mr Collymore.
Collymore explained that Safaricom would be keen to partner with other start-ups and engage in more co-creation initiatives to come up with other solutions to boost the nascent Mobile ICT industry.
