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Safaricom to expand M-PESA to increase revenue

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Safaricom interim CEO Michael Joseph has revealed his plan to take the firm to the next level.

Joseph, who took over Kenya’s top telecom operator following the demise of Guyanese-born Bob Collymore, said that he is determined to transform it during the short period he will be serving as the acting CEO pending appointment of the permanent boss.

Joseph has said that he will be working on the expansion of the M-Pesa section to ensure the firm generates more profits.

He noted that the mobile financial service has been performing well, adding that he intends to make it even better following his appointment in the acting capacity.

Joseph was the predecessor of Safaricom, which is part of Britain’s Vodafone and South Africa’s Vodacom, before his left for Collymore.

“I’m particularly keen to work closely with the team to take M-Pesa beyond Kenya,” Joseph said in a statement.

M-Pesa has grown over the years since it was initiated by the mobile service provider. It now allows customers to send, borrow as well as save their earnings using their mobile phones anywhere.

The firm has been facing stiff competition from companies such as Airtel and Telkom, which have since announced a merger.

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