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 its M-PESA financial services platform, and the role of artificial intelligence and connectivity in expanding financial inclusion across Africa.
Safaricom’s transformation
Reflecting on his six years as CEO, Ndegwa discusses the major decisions that have shaped Safaricom’s growth, including its expansion into Ethiopia, the development of M-PESA beyond mobile payments, and the expansion of its connectivity infrastructure.
He explains that the company’s ambition is to become, “Africa’s leading purpose-led technology company”, moving beyond traditional telecommunications to use technology and innovation to address customer needs.
The future of M-PESA
The interview examines M-PESA’s next phase of growth, as Safaricom looks to expand the platform from a money transfer service into a broader financial ecosystem.
Ndegwa explains that the ambition is to democratise access to financial services.
“We want to broaden and democratise access so you can either pay, you can save, you can invest, you can insure using M-PESA.”
Supporting businesses through digital payments
Ndegwa also discusses how Safaricom is using M-PESA to support businesses, from small scale traders to established merchants.
Through services that enable businesses to accept payments and pay suppliers and employees, the company aims to make its platform an increasingly important tool for business growth.
He emphasises that Safaricom’s role extends beyond individual customers to addressing wider societal needs and gaps in financial inclusion.
How AI is helping Safaricom fight fraud
The conversation explores the growing importance of artificial intelligence in protecting customers and securing digital transactions.
Safaricom processes approximately 150 million transactions a day, making fraud prevention a significant priority as digital financial services expand.
Ndegwa explains that AI and data are essential to identifying and preventing fraudulent activity, noting:
“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 fintech companies
The programme also examines competition from banks and fintech companies as M-PESA expands its financial services offering.
Ndegwa says Safaricom continues to reinvent itself to meet changing customer needs, adding:
“Financial institutions like banks and insurance companies are competitors, but they're also partners.”
Safaricom’s investment in connectivity
Connectivity remains another priority, with Ndegwa outlining Safaricom’s investment in Kenya’s infrastructure.
He says, “We spend approximately between $400 and $500 million in Kenya on our infrastructure,” as the company looks to expand network capacity to meet growing demand for data.
Safaricom’s ‘one app’ super app
Looking ahead, Ndegwa highlights Safaricom’s ambition to bring services together through its “one app” super app, which has launched in Kenya.
By using AI to personalise the experience, the platform aims to help individuals access services in one place while enabling businesses to manage their operations more effectively.
Ndegwa reflects on the importance of balancing commercial performance with societal impact, saying that Safaricom and M-PESA embody a commitment to both.
Marketplace Africa broadcast schedule
Marketplace Africa airs on CNN International at the following times:
- Sunday, 25th October 2026, at 09:30 EAT and 20:30 EAT
- Monday, 26th October 2026, at 05:30 EAT
- Friday, 30th October 2026, at 19:45 EAT
- Saturday, 31st October 2026, at 19:45 EAT
- Sunday, 1st November 2026, at 06:45 EAT
- Sunday, 1st November 2026, at 09:45 EAT
- Monday, 2nd November 2026, at 05:45 EAT
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