Safaricom’s Masoko Eyes Cross-Border Markets by 2020
Kenya’s leading telco has announced plans to expand its e-commerce business to other countries before the year 2020. The Chief Financial Services Officer Sitoyo Lopokoiyit made this while at the just concluded Afro-Asia Fintech Festival.
“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,” said Sitoyo Lopokoiyit.
Safaricom is set to take advantage of the rising smartphone ownership to thrive its online business in the sub-Saharan region with the numbers being predicted to hit 525 million owners by 2020.
In March, Safaricom partnered with the Chinese e-commerce giant Alibaba through its platform Aliexpress.com. The deal allows shoppers on Aliexpress to pay through Mpesa.
“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.
Safaricom has also collaborated with more than 16,000 fintech developers from various regions across the world for the creation of new and useful products and services for their clients.