In a fascinating revelation about the origins of one of Kenya’s most successful mobile lending platforms, it has emerged that M-Shwari almost launched under a different name M-Jenga. The name change occurred just three hours before launch, following a lighthearted remark from Safaricom’s founding CEO, Michael Joseph, who joked that the public might associate it with ex-Mungiki leader Maina Njenga.
The telco’s former Chief Finance Officer, Sitoyo Lopokoiyit, shared this anecdote during the commemoration of M-Pesa’s 18th anniversary. According to Lopokoiyit, his team had to act swiftly to find an alternative name, ultimately settling on M-Shwari, a name that has since become synonymous with financial empowerment for millions of Kenyans.
Launched in November 2013, six years after M-Pesa revolutionized mobile money transfers, M-Shwari has grown into a vital financial tool, providing instant mobile loans and savings solutions to over 18 million users. Its impact has been transformative, enabling financial inclusion for millions who previously lacked access to traditional banking services.
Speaking during the anniversary event, Agriculture Cabinet Secretary Mutahi Kagwe, who served as Kenya’s ICT Minister when M-Pesa was first introduced, highlighted the significance of the mobile money platform. “Today, everyone has a story to tell about M-Pesa. It is a rich Kenyan story that cuts through villages and breaks international borders,” Kagwe remarked, emphasizing M-Pesa’s profound economic and social impact.
Safaricom CEO Peter Ndegwa echoed these sentiments, expressing optimism about the future of M-Pesa and its affiliated products, including M-Shwari. With over 34 million active users, Safaricom’s financial services continue to expand, reinforcing Kenya’s status as a global leader in mobile banking innovation.
The near-miss with the name M-Jenga serves as a humorous yet significant reminder of how branding decisions can shape a product’s trajectory. Had the original name been retained, M-Shwari’s journey might have taken a different turn. Instead, it has become a pillar of financial resilience, demonstrating the power of mobile technology in driving economic inclusion across Kenya and beyond.
