Safaricom is looking to transform M-PESA into a platform that allows millions of Africans to save, invest, access insurance and manage their businesses, as the telecommunications company accelerates its shift towards becoming a technology business.
Speaking to CNN’s Victoria Rubadiri on Marketplace Africa, Safaricom CEO Peter Ndegwa outlined the company’s plans to expand M-PESA beyond mobile money transfers while investing in artificial intelligence (AI), digital financial services and network infrastructure.
Ndegwa, who has led Safaricom for six years, said the company’s long-term ambition is to become Africa’s leading purpose-led technology company, using innovation to address everyday challenges facing individuals and businesses.
“We want to broaden and democratise access so you can either pay, you can save, you can invest, you can insure using M-PESA,” he said.
M-PESA’s Next Big Move
Having established itself as a widely used mobile money platform, M-PESA is now positioning itself to offer a wider range of financial services to customers who may not have access to traditional banking products.
The strategy will see Safaricom strengthen services that allow customers to move money, build savings, invest and access insurance through its digital platform.
Businesses are also central to the company’s plans.
Through M-PESA, Safaricom is seeking to make it easier for small traders and established businesses to receive payments, pay suppliers, manage transactions and pay employees.
According to Ndegwa, the goal is to create a financial ecosystem that supports both individual customers and businesses while addressing gaps in financial inclusion.
AI Takes Centre Stage as M-PESA Handles 150 Million Transactions Daily
As digital transactions continue to grow, Safaricom is increasingly turning to artificial intelligence to protect customers against fraud.
Ndegwa revealed that the company processes approximately 150 million transactions every day, highlighting the scale of its operations and the need for stronger security systems.
“We can’t manually be able to prevent fraud if we didn’t have AI and we have a data layer,” he explained.
The company is using AI and customer data to identify suspicious activity and strengthen fraud prevention as more Kenyans embrace digital financial services.
Beyond security, Safaricom is also exploring how artificial intelligence can improve customer experiences through personalised services.
Banks and Fintechs Are Both Competitors and Partners
Safaricom’s expansion into savings, investments and insurance is also placing M-PESA in closer competition with traditional banks, insurance providers and emerging fintech companies.
However, Ndegwa believes partnerships will remain essential as the company seeks to expand its financial services offering.
“Financial institutions like banks and insurance companies are competitors, but they’re also partners,” he said.
He explained that Safaricom must continue reinventing itself as customer expectations change and new players enter the financial services market.
Safaricom Investing Up to $500 Million in Kenya’s Network Infrastructure
Despite its growing focus on financial technology, Safaricom is continuing to invest heavily in its telecommunications infrastructure.
Ndegwa said the company spends between $400 million and $500 million on infrastructure in Kenya, supporting network expansion and growing demand for data services.
“We spend approximately between $400 and $500 million in Kenya on our infrastructure,” he said.
The investments are intended to strengthen connectivity and expand network capacity as more customers rely on digital platforms for communication, payments and business operations.
Ndegwa also reflected on Safaricom’s expansion into Ethiopia, identifying the move as one of the major strategic decisions undertaken during his leadership.
Safaricom Bets on a Super App
Looking ahead, Safaricom is betting on its newly launched “one app” super app in Kenya to bring multiple services together on a single platform.
The company plans to use artificial intelligence to personalise the experience, making it easier for customers to access services while helping businesses manage their operations.
The move forms part of Safaricom’s broader ambition to evolve beyond telecommunications into a technology company offering integrated digital solutions.
For Ndegwa, the company’s future will depend on balancing commercial growth with its ability to improve people’s lives through technology and financial inclusion.
The full interview will air on CNN International’s Marketplace Africa on Saturday, 24 October 2026, at 6:30 a.m. East African Time, featuring Ndegwa’s reflections on Safaricom’s transformation and the future of M-PESA across Africa.
