What does it take to move from being a telecom operator to a purpose-led technology company?

In this episode of the TechAfrica News Podcast, Chief Editor and Founder Akim Benamara sits down with Dr. Peter Ndegwa (CBS), CEO of Safaricom Group PLC, to explore the company’s 25-year journey, the evolution of M-Pesa, and its bold expansion into Ethiopia. From tackling Africa’s device gap to harnessing AI and satellite, the conversation reflects on how innovation, inclusion, and investment are shaping the continent’s digital future.

About Our Guest

Dr. Peter Ndegwa (CBS) is the CEO of Safaricom Group PLC, Africa’s leading technology company and pioneer of M-Pesa, serving more than 53 million customers across Kenya and Ethiopia. Since joining in 2020, he has led Safaricom’s shift from telecom to tech company, spearheaded its entry into Ethiopia, and strengthened its social impact through the Safaricom and M-Pesa Foundations.

Safaricom at 25: A Legacy of Transformation
From its start as a Telkom Kenya department to a $2.5B enterprise, Safaricom has grown into one of Africa’s most influential companies. Alongside, M-Pesa—turning 18 this year—has expanded financial access and powered half of Kenya’s GDP flows.

M-Pesa: From Payments to Financial Health
With 36 million monthly users and $800M transacted daily, M-Pesa has moved beyond payments into credit, savings, and insurance. “Accumulating wealth is not about richness; it is just about savings,” Ndegwa noted. AI is now strengthening fraud prevention and personalising services.

Bridging the Device Gap
Safaricom is making 4G phones affordable through local assembly and pay-as-you-go models like Lipa Mdogo Mdogo, aiming to make internet access universal.

Satellites as Partners, Not Rivals
Satellite services will not replace networks but complement them, especially in rural areas, healthcare, and backhaul. Africa, Ndegwa believes, will be the biggest beneficiary.

“The terrestrial network is now established, and there has been a lot of investment that has been put there. Satellite, we see it as an opportunity to come and complement the terrestrial network, especially since there are still so many rural areas. We will see satellite supporting terrestrial networks to ensure that coverage is achieved. Africa will probably be the biggest beneficiary of satellite because it reduces the need for heavy infrastructure investment. This also means the cost of delivering connectivity becomes lower. I fully agree that in Africa, satellite will likely play a bigger role than in the West.”

– Dr. Peter Ndegwa, CEO, Safaricom

Ethiopia: Growth Frontier
Safaricom’s $2.3B push into Ethiopia has already brought 10M new users. With 125M people, the market could outgrow Kenya in scale, supported by the newly launched Safaricom Ethiopia Foundation.

Looking Ahead
Africa’s young, digital-first population could unlock a leap in jobs and innovation. “We have shown in mobile money that we can actually do much better than any country in the West,” Ndegwa said, pointing to AI and digital tools as the next accelerators.

This episode was filmed on: 7 July 2025 in Johannesburg

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