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 comes as the region is expected to see a significant growth in smartphone users, with an estimated 525 million users by the end of 2020.
According to Sitoyo Lopokoiyit, Chief Financial Services Officer at Safaricom, "We see endless possibilities for business beyond borders. We are currently reviewing our e-commerce proposition Masoko to ensure that we are positioned ready to take off. Through the mobile phone, and with its penetration in Kenya at 100 per cent, most families have access to at least one mobile phone, making it possible to use these devices as powerful tools for social and economic development."
As part of its expansion plans, Safaricom has partnered with Aliexpress.com, a Chinese online store under Alibaba Group, to allow them to use M-PESA as a payment option.
The Masoko platform aims to bring the market to small businesses in Kenya and provide them with access to opportunities presented by the rapid growth of e-commerce across the globe.
"As a telco, we are 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.
Currently, Safaricom has opened its platform to over 16,000 Fintech developers to develop relevant products and services for customers.
