This archive report was first published on 14 November 2019.
Published on November 14, 2019, Safaricom's Chief Financial Officer Sitoyo Lopokoiyit urged innovators at the Singapore Fintech festival to explore opportunities in Kenya's industry.
Kenya's mobile phone internet traffic share has reached 83 per cent, surpassing Nigeria's 2017 lead, according to Sitoyo.
He estimated that the Fintech industry in Kenya will cross the Ksh. 100 billion mark by next year, driven by huge investments.
Mr. Sitoyo cited M-Pesa as a significant success story, revolutionizing Kenya's financial sector in just ten years.
He attributed the revolution to a 'deep passion and commitment to transforming lives' and efforts to ensure every Kenyan enjoys the benefits of mobile money growth.
The Singapore Fintech festival, an annual event, brought together over 60,000 delegates to share knowledge on Fintech industries in their countries.
Attendees included representatives from Central Banks, banks, financial institutions, innovators, and venture capitalists.
Kenyan micro-insurance company Pula won an award for providing agriculture insurance to small-scale farmers, a service previously avoided by bigger corporates.
CBK Governor Patrick Njoroge announced that Kenya will host the second Afro-Asia festival in July next year.
