Safaricom finance chief Esther Waititu to exit

Safaricom has announced that its Chief Financial Services Officer, Esther Waititu, will leave the company on July 31 to pursue other opportunities, after three and a half years in the role. Waititu joined Safaricom in February 2023 and has since overseen the growth of M-PESA from a mobile payments service into a broader financial services platform offering savings, credit, insurance and investment products. Over the past few years, M-PESA has become Safaricom's main revenue source as income from traditional services such as voice and text messaging has slowed. In the last financial year, M-PESA revenue grew to a record KSh182.7 billion, accounting for nearly 46 percent of Safaricom Kenya's service revenue. The platform had about 41 million active customers. Safaricom has appointed Boniface Mungania to take over the role in an acting capacity. He previously served in the same position before Waititu's appointment in 2023.