The true cost of M-PESA is catching up with M-PESA
- Safaricom's M-PESA market share dropped from 97% to 91% over five consecutive quarters.
- Airtel Money's market share grew from 3% to 9% during the same period.
- M-PESA's pricing has remained unchanged despite user frustration and competitive pressure.
The ongoing decline of M-PESA's market share suggests that Safaricom may be underestimating the importance of adapting to consumer needs in a competitive landscape. The company's focus on shareholder returns over user satisfaction could lead to long-term repercussions if it fails to innovate and respond to market signals. A more customer-centric approach is essential for maintaining relevance in an increasingly price-sensitive market.
