Requirements to Start an M-Pesa Business:
- One must incorporate their M-Pesa firm as a Limited Company.
- The business should have been open for at least six months.
- Ensure your M-Pesa firms are operating in separate counties.
- Complete the M-Pesa agent head office application form and the M-Pesa agent shop application form.
Becoming an M-Pesa Agent:
One can join the M-Pesa business either as an agent or sub-agent.
Working as an agent is more profitable than working as a sub-agent.
MPesa sub-agents must keep a minimum float of Ksh 30,000 in M-Pesa.
Cost of Starting an M-Pesa Business:
- Kshs 100,000 per outlet for float
- Kshs 100,000 for SIMEX (SIM replacement cards)
- Kshs 100,000 per outlet for additional outlets for float
Profitability and Transactions:
How much profit can I make from an M-Pesa business?
An M-Pesa business can generate up to Ksh 50,000 monthly depending on location and customer traffic. M-Pesa agents earn commissions on every transaction. If you set up your outlets in high traffic areas like Nairobi or Mombasa, the profits can be higher.
Safaricom requires all prospective agents to be registered as a LIMITED company or equivalent, with at least three outlets ready to offer M-PESA under the company names, in order to become an M-Pesa Agent. The company MUST have been in business for at least 6 months.