Safaricom CEO speaks on AI ambitions for Kenya & Africa

Safaricom, one of the leading telecommunications companies in Africa, is making strides in the tech industry with a focus on Artificial Intelligence (AI) and tech talent. The CEO of Safaricom, Peter Ndegwa, recently attended the GSMA Mobile World Conference in Kigali to showcase the company's futuristic technologies ready to be embedded in the African market. At the conference, Ndegwa emphasized the importance of increasing connectivity in Africa to ensure more people have access to affordable devices and data. He highlighted Safaricom's initiative, 'Lipa Mdogo Mdogo,' a pay-as-you-go financing scheme that has already attracted a million users. The program allows customers to pay a small deposit and then make daily installments using M-Pesa until they own the device. Furthermore, Safaricom is investing in AI and machine learning to enhance its services. Ndegwa discussed how the company is using AI to combat fraud in mobile financial services, personalize data plans for customers, and implement innovative credit scoring methods. By developing a workforce with digital skills and focusing on emerging technologies, Safaricom aims to stay ahead in the rapidly evolving tech industry. The CEO also addressed the competition in the mobile financial services sector, acknowledging that other telecom companies are entering the market with similar offerings. However, he emphasized the importance of collaboration and interoperability to drive financial inclusion and improve customer experiences across the industry. In terms of revenue and performance, Ndegwa expressed confidence in Safaricom's growth trajectory. He highlighted the company's expansion into enterprise payments, wealth management, and insurance services, as well as its support for government initiatives in digitization. By fostering an open ecosystem and empowering users, Safaricom aims to sustain its success and continue driving innovation in Africa. Overall, Safaricom's CEO is optimistic about the future of technology in Africa and the company's role in shaping digital transformation across the continent.