Developed together with a local start-up Dynamic Data Systems, the partnership is the first in an anticipated series of partnerships Safaricom will be pursuing with local developers and start-ups.
“We strive to be the first to market with pioneering products that help transform the lives of our customers but we are aware that we cannot innovate alone. Our partnership with Dynamic Data Systems signals our increasing commitment to build capacity in the local start-up community,” Safaricom CEO Bob Collymore said.
M-Ledger provides an easily accessible accounting service for users by allowing them to view and manage all their past transactions on a single view from their mobile phone.
Modelled on traditional ledgers as used in the accounting profession, the solution provides historical data on past transactions as well as providing the option to extract the data in spreadsheet form.
The application also has a universal search functionality allowing users search for Paybill and Lipa na M-PESA till numbers.
M-Ledger was one of 18 applications developed during the inaugural 2013 Safaricom Appwiz Competition which is aimed at building and nurturing mobile tech start-ups that build innovative, relevant and attractive solutions for Kenyan consumers and enterprises.
Participants in the competition were also provided with skills training in business planning, marketing, quality product development and financial management as part of the incubation period of the program.
“We launched the competition with the long-term intention of creating the foundation for a vibrant m-economy that is locally-driven. Today’s partnership cements the commitment we are making to continued partnerships to deliver that vision,” Collymore noted.
In two weeks, Safaricom will be hosting the second edition of its Appwiz Awards that recognize commercially viable projects developed by local firms.
M-Ledger will be available from the Safaricom Appstore (http://appstore.safaricom.com) to M-PESA customers who use Android-based mobile phones.
The application already has already over 35,000 downloads.