This archive report was first published on 16 July 2019.
Published on July 16, 2019, Safaricom announced plans to expand its e-commerce proposition Masoko to other countries in Sub-Saharan Africa by 2020.
The move is driven by the expected growth of smartphones in the region, which is estimated to hit over 525 million users by the end of 2020.
"We see endless possibilities for business beyond borders," said Sitoyo Lopokoiyit, Chief Financial Services Officer, Safaricom. "We are currently reviewing our e-commerce proposition Masoko to ensure that we are positioned ready to take off."
Through the mobile phone, Safaricom aims to use its penetration in Kenya at 100 per cent to make it possible to use these devices as powerful tools for social and economic development.
The announcement follows a recent partnership in March 2019, where Safaricom signed a deal with Chinese online store Aliexpress.com to expand its e-commerce reach in the country by allowing them to use M-PESA as a payment option.
The ambition for the Masoko platform is to bring the market to small businesses wherever they are in Kenya, and to give them access to opportunities presented by the rapid growth of e-commerce across the globe.
As a telco, Safaricom is purposed to transform lives by investing in technology and knowledge that will widen the reach of the possibilities they have witnessed in the last two decades to reach right across Africa, using that pocket-sized gadget," said Lopokoiyit.
In the spirit of innovation, Safaricom has so far opened its platform to over 16,000 Fintech developers to develop relevant products and services to customers.
