14 February 2016

World Bank taps former Safaricom boss for mobile money expansion

23 February 2011  |  8421 views  |  1 iPhone on top of Keyboard

The World Bank is tapping the expertise of former Safaricom boss Michael Joseph to advise on the expansion of mobile money programmes in member states.

Josephs, who is credited with the success of the M-Pesa programme in Kenya, is the first appointee under a new fellowship initiative at the World Bank that is designed to attract high-level experts who are globally recognised practitioners in their field.

As a fellow, Joseph will provide strategic advice to the World Bank and governments beyond Africa on policy and regulatory issues to promote development of mobile banking and payments.

Johannes Zutt, World Bank country director for Kenya,comments: "Michael Joseph's participation in the World Bank fellows programme will leverage the bank's interventions in technology and financial services in new frontiers in line with our new Africa Strategy."

The World Bank's December 2010 Kenya Economic Update estimated that more than 21 million Kenyans have access to phones, with 15 million using mobile money services. In December 2010, mobile money services in Kenya reached a new record of almost US$1 billion in transactions.

Safaricom and other mobile payment companies operating in the country continue to expand the reach with innovative new applications, including current trials to pay the salaries of 13,000 sugarcane cutters and other casual workers at the Mumias sugar company via mobile phones.

Comments: (1)

Robin Brownsell
Robin Brownsell - Greater Brighton Banking - Brighton | 23 February, 2011, 10:28

This is an excellent appointment and I wish Michael well. His experience will be invaluable to this new endeavor. My support comes from listening to Michael talk with the very knowledgeable commentator Dave Birch from Consult Hyperion last August .You can hear them discuss the evolution of M-PESA banking in this podcast


Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

14 October, 2010
14 September, 2010
18 May, 2010
30 April, 2010
29 April, 2010
16 February, 2010
20 November, 2009
30 September, 2009
15 September, 2009

Related company news


Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
16869 views comments | 108 tweets | 91 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
9384 views comments | 30 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
9094 views comments | 36 tweets | 10 linkedin
Is Paym a failure?Is Paym a failure?
7425 views 16 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6748 views comments | 17 tweets | 28 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job