Sitoyo Lopokoiyit

You're welcome.

First, it's great to be here, and apologies for disrupting you twice.

I think in your journey, you've always talked about patient capital, so I think the patience paid off, and I think we came good for you.

I think for M-Pesa, it started with two insights, and I think that's the DNA of M-Pesa.

Before we launched in 2007, we were piloting with a microfinance institution with a women's-only group, which we were trying to

give out loans to the women and then see what happens.

And what was happening is, for example, you were sending to her the SMS.

And in that pilot, that's the first insight we had.

And the second insight that came is a challenge that Kenya had with regards to

rural urban migration.

So people in the urban areas wanted to send money back home, either to their families, to their friends, or to do farming, as an example.

And the only way they could do that is physical money.

So if I wanted to send money to my mother, who is 500 kilometers away from Nairobi, I would write a letter, then put money into it.

I'd look at it in the light, just make sure you can see the money.

You give it to a bus driver, and then the next day, she would go and pick it.

And those two insights combined to create our first proposition, send money home.

And that's how M-Pesa started 18 years ago.

And one thing was, how do you ensure that somebody in rural Kenya with very little education or no education can receive an SMS and know it's money?

And if it's deleted, she has the confidence that the money is there.

Or if she loses her phone, she knows the money is there.