M-Pesa is a money services business with a stronghold on Kenya's mobile economy; they have over 42 million active customers with 400,000 agents across seven countries. In Uganda, for example, only 43% of people have mobile money accounts. But in Kenya, it’s over 72%, thanks largely to M-Pesa. In order for other mobile apps to win in Africa like M-Pesa did in Kenya, it will take a combination of deploying the right tech at the right time and holding government accountable to not excessively tax, regulate, or steal from the market as it grows. M-Pesa accounts for over 50% of Kenya's GDP of foreign money transfers.

Vox (Sept 11, 2020)