Kenya’s Safaricom eyes new technology, expansion into Ethiopia

Nairobi: Kenyan telecoms giant Safaricom is seeking to transform itself into a technology company, offering new financial solutions to anyone from small businesses to farmers, new CEO Peter Ndegwa told AFP.

Listed on the Nairobi stock market, Safaricom is one of the biggest companies in East Africa, its success fuelled by its mobile money service Mpesa, which was launched in 2007 and has become indispensable in Kenya.

Ndegwa, who was named the group’s new CEO following the death of Bob Collymore, said the future of Safaricom would come from “combining technology and innovation.”