Esther Waititu will step down as Safaricom’s Chief Financial Services Officer at the end of July, marking another senior leadership change at Kenya’s largest telecommunications company.
Safaricom said Waititu’s final day will be July 31, 2026. According to an internal memo from Chief Executive Officer Peter Ndegwa, she requested to leave the company to pursue other opportunities after serving in the role for about three years.
The company has appointed Boniface Mungania as interim Chief Financial Services Officer while it searches for a permanent successor.
Esther Waititu departs after three years
Waititu joined Safaricom in 2023 following a banking career that included senior leadership positions at KCB Group and Standard Bank.
She took charge of the business unit responsible for M-PESA’s financial services operations during a period of continued expansion beyond traditional mobile money transfers.
In the internal communication to employees, Ndegwa said her departure was made at her own request. Safaricom has not announced where Waititu will move next.
The company has also not indicated when it expects to name a permanent Chief Financial Services Officer.
M-PESA expanded under her leadership
During Waititu’s tenure, Safaricom continued broadening M-PESA’s position from a mobile payments platform into a wider financial services ecosystem.
The company expanded offerings across savings, lending, insurance and investment products, reinforcing M-PESA’s role as one of Safaricom’s primary growth engines.
One of the most significant launches during her leadership was Ziidi Trader, an M-PESA mini app introduced in February 2026.
The platform enables users to buy and sell shares listed on the Nairobi Securities Exchange directly through M-PESA, reflecting Safaricom’s strategy of integrating more investment products into its digital financial ecosystem.
The initiative broadened access to capital markets by allowing retail investors to participate using familiar mobile channels.
Fintech platform modernization
Waititu also oversaw Safaricom’s migration of M-PESA infrastructure to what the company describes as its Fintech 2.0 platform.
According to Safaricom, the cloud-based modernization program is intended to improve system reliability, operational resilience and scalability as transaction volumes continue to grow.
The infrastructure upgrade also supports the Daraja developer platform, which allows businesses and software developers to integrate M-PESA payment capabilities into their own products and digital services.
Developer ecosystems have become increasingly important for financial technology companies because they encourage third-party innovation while expanding the range of services available to customers.
For Safaricom, strengthening the underlying technology platform supports both consumer services and enterprise digital payments.
Boniface Mungania assumes interim role
Safaricom has appointed Boniface Mungania as interim Chief Financial Services Officer.
Before the appointment, Mungania led the company’s public sector digital transformation initiatives, working on technology solutions for government and public institutions.
His interim appointment is intended to ensure continuity while Safaricom conducts the search for a permanent executive to lead its financial services division.
The company has not disclosed whether Mungania will be considered for the position on a permanent basis.
Leadership changes continue
Waititu’s departure is the latest in a series of senior executive transitions at Safaricom.
Michael Mutiga, the company’s Chief Enterprise Business Officer, is scheduled to become Chief Executive Officer of Stanbic Bank Kenya and South Sudan beginning Aug. 1.
Earlier this year, Sitoyo Lopokoiyit, who previously led M-PESA Africa and briefly served as acting Chief Financial Services Officer, left Safaricom before joining Absa Group as Head of Personal and Private Banking based in Johannesburg.
Although executive transitions are common in large organizations, multiple leadership changes within a relatively short period can increase investor focus on succession planning and business continuity.
Why the transition matters
M-PESA remains central to Safaricom’s financial performance and long-term strategy.
The platform has evolved beyond person-to-person money transfers into a broader digital financial services business that supports payments, savings, lending, insurance and investments for millions of customers.
Leadership continuity within the financial services division is therefore closely watched by investors, financial institutions and technology partners.
The appointment of an interim executive suggests Safaricom is prioritizing operational stability while it conducts a formal recruitment process.
The next development to watch will be the company’s announcement of a permanent Chief Financial Services Officer and whether Safaricom outlines new priorities for M-PESA’s continued expansion across digital financial services.
