In the latest episode of Profit Point, CNN’s Victoria Rubadiri speaks with Peter Ndegwa, CEO of Safaricom, about the company’s transformation into a technology business, the evolution of M-PESA, and how artificial intelligence and connectivity can expand financial inclusion across Africa.
Key takeaways
- M-PESA is expanding from money transfer into a full financial ecosystem: pay, save, invest and insure.
- AI and data are essential to fraud prevention across roughly 150 million transactions a day.
- Safaricom spends about $400 to $500 million a year on infrastructure in Kenya.
- The “one app” super app has launched in Kenya, using AI to personalise services.
- Banks and insurers are both competitors and partners.
Six years as Safaricom CEO: from telecoms to technology
Reflecting on his tenure, Ndegwa discusses the decisions that shaped Safaricom’s growth. They include its expansion into Ethiopia, the development of M-PESA beyond mobile payments, and the growth of its connectivity infrastructure.
The company’s ambition, he says, is to become “Africa’s leading purpose-led technology company”. That means moving beyond traditional telecommunications and using technology and innovation to address customer needs.
What is next for M-PESA?
Safaricom wants to turn M-PESA from a money transfer service into a broader financial ecosystem. Ndegwa explains the goal:
“We want to broaden and democratise access so you can either pay, you can save, you can invest, you can insure using M-PESA.”
How M-PESA supports businesses
M-PESA also serves businesses, from small-scale traders to established merchants. Services that let businesses accept payments and pay suppliers and employees aim to make the platform a tool for business growth.
Ndegwa stresses that Safaricom’s role goes beyond individual customers to wider societal needs and gaps in financial inclusion.
How AI protects 150 million daily transactions
Safaricom processes approximately 150 million transactions a day, so fraud prevention is a major priority. Ndegwa says AI and data are essential to spotting and stopping fraudulent activity: “We can’t manually be able to prevent fraud if we didn’t have AI and we have a data layer.”
Competition from banks and fintechs
As M-PESA widens its offering, competition from banks and fintech firms grows. Ndegwa says Safaricom keeps reinventing itself to meet changing customer needs: “Financial institutions like banks and insurance companies are competitors, but they’re also partners.”
Investing in Kenya’s connectivity
Connectivity remains a priority. “We spend approximately between $400 and $500 million in Kenya on our infrastructure,” Ndegwa says, as Safaricom expands network capacity to meet rising data demand.
The Safaricom “one app” super app
Safaricom’s “one app” super app has launched in Kenya. It uses AI to personalise the experience, helping individuals access services in one place and helping businesses manage operations more effectively. Ndegwa says Safaricom and M-PESA embody a commitment to both commercial performance and societal impact.
FAQs
What is Safaricom’s ambition under Peter Ndegwa?
To become Africa’s leading purpose-led technology company, moving beyond traditional telecommunications.
What will M-PESA offer beyond payments?
Saving, investing and insurance, alongside payments.
How does Safaricom use AI?
To detect and prevent fraud across about 150 million daily transactions, and to personalise the “one app” experience.
How much does Safaricom invest in Kenya’s network?
Approximately $400 to $500 million on infrastructure.
When to watch Marketplace Africa on CNN International (EAT)
| Date | Time |
|---|---|
| Sun 25 Oct 2026 | 09:30 and 20:30 |
| Mon 26 Oct 2026 | 05:30 |
| Fri 30 Oct 2026 | 19:45 |
| Sat 31 Oct 2026 | 19:45 |
| Sun 1 Nov 2026 | 06:45 and 09:45 |
| Mon 2 Nov 2026 | 05:45 |
