Safaricom Chief Executive Officer Peter Ndegwa has outlined the company’s transformation from a traditional telecommunications operator into a technology-driven business, highlighting the growing role of M-PESA, artificial intelligence (AI) and connectivity in expanding financial inclusion across Africa.
Speaking to CNN’s Victoria Rubadiri on Profit Point, Ndegwa reflected on his six years at the helm of Safaricom, discussing key decisions that have shaped the company’s growth, including its expansion into Ethiopia, the evolution of M-PESA and continued investment in network infrastructure.
Ndegwa said Safaricom’s ambition is to become “Africa’s leading purpose-led technology company”, using innovation to address customer needs and deliver broader social and economic impact.
A key focus of Safaricom’s transformation is the continued evolution of M-PESA from a mobile money transfer service into a broader financial services ecosystem.
Ndegwa said the company wants to democratise access to financial services by enabling customers to make payments, save, invest and access insurance through the platform.
“We want to broaden and democratise access so you can either pay, you can save, you can invest, you can insure using M-PESA,” he said.
The platform is also expanding its role in supporting businesses, including small-scale traders and established merchants. Through services that facilitate payments, supplier transactions and employee payments, Safaricom aims to make M-PESA an increasingly important tool for business operations and growth.
Ndegwa noted that banks and insurance companies are not only competitors but also potential partners as Safaricom broadens its financial services offering.
As digital transactions increase, Safaricom is placing greater emphasis on artificial intelligence and data analytics to protect customers and secure its financial services.
The company processes approximately 150 million transactions daily, making fraud detection and prevention a significant operational priority.
Ndegwa said AI has become essential in identifying and preventing fraudulent activity at the scale required by the platform.
“We can’t manually be able to prevent fraud if we didn’t have AI and we have a data layer,” he said.
The growing use of AI reflects the importance of technology in strengthening trust and security as digital financial services become more widespread.
Connectivity remains central to Safaricom’s strategy, with the company continuing to invest in Kenya’s network infrastructure to meet rising demand for data and digital services.
Ndegwa said Safaricom spends approximately $400 million to $500 million annually on infrastructure in Kenya, supporting the expansion of network capacity and connectivity.
The investment forms part of the company’s broader ambition to build the digital infrastructure required to support individuals, businesses and the wider economy.
Looking ahead, Ndegwa highlighted Safaricom’s “one app” super app, which has launched in Kenya, as part of efforts to bring multiple services together on a single platform.
The platform aims to simplify access to services for individuals while helping businesses manage their operations more efficiently. AI-powered personalisation is expected to play a role in tailoring the experience to users’ needs.
Ndegwa said Safaricom’s continued reinvention is driven by changing customer expectations and the need to remain competitive as banks and fintech companies expand their digital offerings.
The company’s strategy combines commercial growth with a wider social purpose, with financial inclusion and digital access remaining central to its ambitions.
Watch the full interview on CNN International’s Marketplace Africa on Saturday, 24 October 2026, at 6:30 a.m. East African Time.
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