Jacqueline Novogratz

M-Pesa was founded in Kenya.

What's so extraordinary is this is 2007, which was the era of the iPhone and iPhones.

When IBM introduced Watson, it was the year of Kindle and Airbnb.

And not enough people paid attention to this notion that cell phone banking could be a thing.

It would take years before the United States and China took it on themselves.

And now, when I'm in Nairobi, I can buy a banana or roasted corn on the street in ways that in New York, often at restaurants, I still can't.

I need my credit card.

And so it has fundamentally transformed society.

The third which we're going to get to is the moral imagination.

Sitoya and I share a belief that what we need in the world are social entrepreneurs who are using business

grounded in moral imagination.

In other words, they are fundamentally designed from the perspective of those they are here to serve, particularly the overlooked and the underestimated.

And M-PESA has done that like very few other social enterprises.

So thank you for this conversation.

And let's start at the beginning, Sitoyo.

And could you even go beyond jobs, Sitoyo, and talk about the overall stats, if you will, and the impact that M-Pesa has today?

I want to get into all of this stuff, but I just want to give the high line, which is what, $1.5 billion a day, 60 million customers.

So,

I want to get back to the moral imagination, because this is a massive company.

To go into the offices of M-Pesa, Safaricom, where it's housed, is like going into a central bank, 60% of GDP, and there's a lot of security to get it as well.