20 C
Nairobi
Tuesday, November 24, 2020

Ndegwa Takes Over From Michael Joseph as Safaricom CEO
N

Must Read

Techno The Most Sold Phone in East Africa

Techno is the most sold phone in East Africa accounting for 47 percent in the last quarter of 2019. According...

Top 5 Technology Blogs In Kenya To Follow

I have been following these technology blogs in Kenya and I thought I might want to share them with...

Airtel Money And Jumia Partner On Online Payments

You can now complete your transactions on Jumia using Airtel Money after Airtel Kenya and Jumia today announced a...
Judith Atieno
Judith Atienohttps://shopinkenya.com/
Judith Atieno is an intelligence researcher who enjoys helping old ladies across the road, painting and meditation. She is Kind and Outgoing, but can also be very pessimistic and a bit impatient. She has a degree in journalism, though that is not what she does. However, she won't mind writing articles that keep readers on the edge.

Mr. Peter Ndegwa will today officially take over the reins at Safaricom as the CEO from Michael Joseph who has been holding the office on as a caretaker CEO following the death of Bob Collymore who died on July 1 July last year from Cancer.

 “It is time to serve my country. There are two things that I value most, and that is humility and integrity. Integrity is about doing what you say and humility is knowing that there is always something more you can do,” said Mr Ndegwa.

He also noted that there are still great opportunities in data, M-Pesa and geographical expansion at a time when Safaricom has announced plans to enter Ethiopia and other markets, with the aim of liberalizing its telecommunication services.

Safaricom is more than just a telecommunications company. Voice is saturated but that what is happening everywhere in the world. Best companies renew themselves,” he noted.

Mpesa Factor

Mpesa has been Safaricom’s biggest earner and the company is looking to upgrade it to allow users to buy insurance and investing in wealth management.

Currently, Mpesa users can send and receive money, access banking services on M-shwari and KCB Mpesa and also Fuliza when they fall short of cash and need to complete paying for good and services.

Mpesa accounted for the company’s revenue of Sh240.3 billion, an increase of 19.2 percent to account for 31.2 percent. This was a significant growth considering that M-Pesa accounted for 23.3 percent of Safaricom’s annual revenue in the past three years.

Currently, transaction below Ksh. 1000.00 are free as the company looks for ways to mitigate the effects of the Corona virus on its customers. However, this could hurt Mpesa earnings as most of the transitions referred to as the kadogo economy are below Ksh.1000.00

First Kenyan

Mr. Ndegwa takes over as the first Kenyan to lead the company. His predecessor Bob Collymore was a South African while the first CEO Michael Joseph is an American.  

YOU MAY ALSO LIKE

Leave a Reply

Latest News

Western Kenya Counties and Their Administrative Towns

Thanks to devolution, we now have several Western Kenya counties depending on how you look at them, either politically...

Glovo To Expand To Kisumu and Eldoret

Residents of Kisumu and Eldoret will now get Glovo services after the company announced plans to get to the two cities. The delivery company has...

Nairobi Bus Online Booking, Destinations and Contacts

I know you are here because you are looking for Nairobi Bus Online Booking. However, I will disappoint you by giving you a straight...

StarTimes To Elevate Bouquets In Subscriber Retention Strategy

Nairobi, 20th November 2020. Pay Television Company StarTimes Media has today unveiled a strategic subscriber retention policy that will enable subscribers on both terrestrial and...

Simba Coach Online Booking, Destinations, and Contacts

In this article, we show you how Simba Coach Online Booking can be done. Later, we will share with you its destinations, fares, and...
- Advertisement -

More Articles Like This

- Advertisement -

YOU MAY ALSO LIKE

Open chat