Rachel Zhu


M-Pesa case study

May 2025

During my month in Kenya, my team connected with Head of Strategic Partnerships at M-Pesa Africa (through a cold outreach!). M-Pesa is the dominant mobile money service in Kenya, used by over 40 million people for peer-to-peer transfers, bill payments, and retail purchases. After learning about its historical context, business model, and value proposition, we turned those insights into a case study. The case is available through Ivey Publishing and has been recognized as one of the top cases of 2025. As of 2026, it is used to teach in a core Ivey HBA1 course.