Kenyan operator Safaricom is seeking to transform itself into a technology company, offering new financial services to anyone from small businesses to farmers, AFP reported citing new CEO Peter Ndegwa. Safaricom’s success is fuelled by its mobile money service Mpesa, which was launched in 2007 and has become indispensable in Kenya. Ndegwa, who was named new CEO following the death of Bob Collymore, said the future of Safaricom would come from "combining technology and innovation."
He said it will use technology to create change in the same way as it has done with Mpesa in financial services, in areas such as agriculture, health and education. As an example, he cited the product Digifarm, a mobile platform giving farmers access to loans, insurance, and markets where they can sell their products. It also gives farmers information and advice on managing their livestock or crops.
Safaricom also wants to extend more services to Small and Medium Enterprises (SMEs). Mpesa users currently can send money directly to each other, pay their bills and buy goods at shops and supermarkets from their mobile phones. A new product for SMEs will allow them to pay salaries or suppliers via a special application.
On the international level, the company is trying to forge partnerships with Visa and Paypal which would allow its clients to make money transfers across the globe. In addition to that, Ndegwa said Safaricom is looking at expanding Mpesa and has already expressed an interest in entering Ethiopia.
