This case explores the situation of M-PESA within the Kenyan mobile money market, illustrating the rapid growth and maturation of mobile money within the domestic market and the impact of rapid international diffusion. M-PESA has enjoyed a decade long period of success within the Kenyan market. It has become by far the dominant local player in the mobile money industry, and occupies what some in the market term a virtual monopoly position. This success may have prompted some lethargy on the part of the company as it has basked in its obvious success. Because of its market dominance, there are increasing comments about a monopolistic position. A recent financial consultant’s report even suggested spinning off M-PESA from the parent company Safaricom. The issue has received a great deal of press attention, both local and international. With arguments for and against divestiture, the subject was becoming increasingly sensitive.

Kenya, Africa, financial service, mobile money, divestiture, monopoly, Safaricom
RSM Case Development Centre

Based on published sources; 13 pages.
Follow the 'handle' link to access the Case Study on RePub.
For EUR staff members: the Teaching Note is available on request, you can contact us at
For external users: follow the link to purchase the Case Study and the Teaching Note.

Erasmus Research Institute of Management

Carney, W. (2019). M-PESA MATURES: The Price of Success. RSM Case Development Centre. Retrieved from