This archive report was first published on 31 July 2019.
On July 31, 2019, Michael Joseph, the interim CEO of Kenya's top telecoms operator Safaricom, announced his focus on expanding the company's mobile financial services business M-Pesa beyond Kenya.
Joseph took over as interim CEO after the death of long-serving boss Bob Collymore, who had been instrumental in driving Safaricom's growth through M-Pesa.
‘I’m particularly keen to work closely with the team to take M-Pesa beyond Kenya,’ Joseph stated, adding that he would lead the company until a permanent CEO is found.
As a board member, Joseph previously served as CEO from 2000 to 2010, before Collymore took over.
M-Pesa, launched over a decade ago, has been a key driver of Safaricom's profit growth, with over 22.6 million users in Kenya and a presence abroad.
Collymore had revealed plans to acquire M-Pesa's intellectual property rights from Vodafone for $13 million, enabling Safaricom and Vodacom to expand the service across Africa.
