This archive report was first published on 1 July 2020.
James Wababu Kiragu's journey from a humble teacher to a successful M-Pesa agent is a true rags-to-riches story. Born in 1963, Kiragu graduated in 1987 and started his career as a teacher. However, he soon discovered his true calling in entrepreneurship.
After closing down his butchery, Kiragu focused on his bureau, which provided printing and photocopying services on Government Road in Nakuru. It was during this time that he received a visit from a young man wearing a Safaricom T-shirt, who introduced him to M-Pesa, a new mobile money product in the market.
Impressed by the idea, Kiragu invested Sh. 30,000 as a sub-agent and started his M-Pesa business. The demand for M-Pesa services grew rapidly, and Kiragu soon quit his teaching job to focus on his new venture.
By 2008, Kiragu had opened three more outlets, and in 2010, he made a breakthrough by securing a deal to run M-Pesa shops in all Tuskys Supermarkets' premises. Today, he serves 48 Tuskys outlets and uses the Safaricom aggregator module to manage over 100 M-Pesa operators.
As his business grew, Kiragu realized the need to expand his operations to the interior. He entered into an agreement with small shops, providing them with capital and location while managing the shops for them. This partnership has enabled him to grow and remain effective in the competitive M-Pesa market.
By the first quarter of 2012, Kiragu's M-Pesa business had moved over Sh. 1.3 billion, and by 2017, he was moving over Sh. 400 million monthly. This success has enabled him to start a financial sacco, which provides loans to his employees.
