M-Pesa agent has been accused of withholding over $2,000 in mistaken deposit

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February 7, 2024
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2 min read
M-PESA

The News

  • Frida Wangechi, an Equity Bank official, has charged an M-Pesa agent, Elizabeth Wanjiru, with intentionally withholding electronic payment against the law in Kenya. 
  • She allegedly refused to return KSh392,000 ($2,442) that Wangechi had mistakenly sent to her M-Pesa agent account.
  • Wangechi claims she deposited KSh784,000 ($4,824) instead of KSh392,000 ($2,442) into the accused M-Pesa agent account as working capital (float) in a double transaction.

Appearing before Chief Magistrate Tito Gesora of the Makadara Law Courts, the accused denied the charges and has been released on KSh100,000 ($615) cash bail.

However, the case will be mentioned in April, pending a commencement trial on July 8.

When the reversal failed at the time of the incident, the accused was instructed not to withdraw the money. 

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Nonetheless, Safaricom informed Equity officials that Wanjiru's account was empty when they attempted to perform a reversal. Following this, Wanjiru allegedly switched off her phone.

According to a report, CCTV footage from the incident shows Wangechi attending to Wanjiru, and the bank statement shows the suspect withdrew only Sh392,000; both are listed as exhibits in the case.

Court witnesses to the case include Wangechi and her senior colleague.

M-Pesa agents act as middlemen between customers and the M-Pesa system, facilitating cash deposits, withdrawals, and transfers. They can be small business owners, shopkeepers, or individuals authorised to provide these services.

M-Pesa, a digital payment solution owned by Safaricom, is one of Kenya's most popular payment options, serving over 30 million Kenyans.

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Vodafone and Safaricom launched M-PESA in 2007, and it has since expanded to Tanzania, the DR Congo, Egypt, South Africa, Ghana, Mozambique, and Lesotho. 

Safaricom's M-Pesa dominates the Kenyan mobile money market, with Airtel Money and Orange Money trailing close behind. These companies help fuel Kenya's mobile money market, which is projected to grow from $133 billion in 2023 to $641 billion by 2032.

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