Around 19 years ago, when M-Pesa launched, a lady became the first agent from whom customers could withdraw and send money. As M-Pesa was new in the market, the lady, Esther Muchemi, became agent number 0001, and at the time she did not know she would turn into one of the richest women in Kenya.
Unlike today, Safaricom had few users then, and as such, working as an agent of its product M-Pesa was not expected to earn so much money. But how did she end up becoming as wealthy as she is today?
In this segment, Times Digital Kenya explores the life of Esther Muchemi, M-Pesa’s first-ever agent, and how she went on to amass huge wealth.
Career and Becoming the First M-Pesa Agent
At the beginning of her career, Dr. Esther Muchemi worked as an auditor in various companies, including Bellhouse Mwangi (now Ernst & Young) and PKF Kenya, where she served as a salaried partner from 1984 to 1988 and 1989 to 1996, respectively.
Having been employed for around 16 years, she left formal employment to start her own business. In 2000, she founded Samchi Telecommunications Ltd, where she serves as the founder and CEO.
The company later expanded to numerous outlets, and when M-Pesa was introduced in Kenya, it became its first-ever dealer and, to date, still holds till number 001.
“I was the first dealer to roll it out in all my shops. I didn’t know where this thing was going. I didn’t understand it…” Esther recalled in a past interview with Business Daily.
At the time, Samchi went through a lot, as customers questioned how money could exist inside the phone and whether it was safe. The company actually faced challenges, as many transactions at the start failed to process on time due to network hitches.
As a result, Esther Muchemi, together with her team, spent hours answering questions and assuring Kenyans that M-Pesa was safe and secure.
This led to some days when there were barely any transactions. However, she did not back down and continued to push forward.
In 2009, Safaricom recognized Esther Muchemi as the top M-Pesa agent, thanks to her hard work that saw her brand become very successful.
How Esther Muchemi Became a Billionaire
After becoming the first M-Pesa dealer, Esther did not stop there. Her company, Samchi Group, expanded even further, with investments in tourism, real estate, hospitality, insurance, and microfinance sectors.
The Samchi Group umbrellas a large number of companies, including Samchi Heights, Samchi Digital, Samchi Credit, Samchi Telecom, Heavenly Wings, After 40 Hotel, Jumbo Communications Ltd, Space International, and Mergut Telecom Ltd.
Apparently, Esther Muchemi’s investments in these businesses have won several awards. In 2017, she received the Global Inspirational Women Leadership Award and was also inducted into Amazon’s 100 Global Women Leaders Hall of Fame.
Today, Esther Muchemi is among the few women billionaires in Kenya.
