TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
M-Pesa was founded in Kenya.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
What's so extraordinary is this is 2007, which was the era of the iPhone and iPhones.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
When IBM introduced Watson, it was the year of Kindle and Airbnb.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
And not enough people paid attention to this notion that cell phone banking could be a thing.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
It would take years before the United States and China took it on themselves.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
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.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
I need my credit card.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
And so it has fundamentally transformed society.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
The third which we're going to get to is the moral imagination.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
Sitoya and I share a belief that what we need in the world are social entrepreneurs who are using business
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
grounded in moral imagination.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
In other words, they are fundamentally designed from the perspective of those they are here to serve, particularly the overlooked and the underestimated.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
And M-PESA has done that like very few other social enterprises.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
So thank you for this conversation.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
And let's start at the beginning, Sitoyo.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
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?
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
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.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
So,
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
I want to get back to the moral imagination, because this is a massive company.
TED Talks Daily
A story of moral imagination and bold entrepreneurship | Sitoyo Lopokoiyit and Jacqueline Novogratz
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.