Peter Ndegwa is the current CEO of Safaricom, having taken the helm on April 1, 2020. He is the first Kenyan to lead Safaricom, a position previously held by international executives. His leadership has been marked by a strong focus on digital transformation, innovation, and business expansion both within and outside Kenya.
Peter Ndegwa – Background
- Education:
- Holds a degree in Economics from the University of Nairobi.
- Has an MBA from the London Business School.
- He is also a certified public accountant (CPA).
- Professional Background:
- Before joining Safaricom, Peter Ndegwa had a long and successful career at Diageo, a multinational alcoholic beverages company. He held various senior roles, including Managing Director for Diageo in continental Europe and General Manager of its East African subsidiary, East African Breweries Limited (EABL).
- His time at Diageo gave him strong experience in operational management, financial stewardship, and growth in emerging markets, skills that are highly relevant to his role at Safaricom.
Key Initiatives and Focus Areas as Safaricom CEO
- Digital Transformation:
- Ndegwa has placed significant emphasis on turning Safaricom into a digital-first company, expanding its range of services beyond traditional telecommunications. This includes growing the M-Pesa platform and increasing Safaricom’s footprint in digital services such as cloud computing, cybersecurity, and fintech.
- 5G Rollout:
- Under Ndegwa’s leadership, Safaricom became the first telecommunications company to launch 5G services in Kenya. This is a major step toward delivering faster, more reliable internet services and positioning Safaricom at the forefront of Kenya’s digital economy.
- M-Pesa Growth:
- Ndegwa continues to drive M-Pesa’s evolution, expanding its role in digital payments, savings, and loans. Under his leadership, Safaricom introduced Fuliza, an overdraft service for M-Pesa users, which has seen significant uptake.
- Additionally, Ndegwa has overseen the expansion of M-Pesa’s reach to other African markets, particularly through partnerships and cross-border payments.
- Ethiopia Expansion:
- A major achievement under his leadership is Safaricom’s expansion into Ethiopia. Safaricom, part of a consortium that won a telecom license in Ethiopia, is now working to set up its operations in a market that offers immense potential due to Ethiopia’s large population and relatively underdeveloped telecom infrastructure.
- Customer-Centric Innovation:
- Ndegwa has been keen on improving customer experience through digital channels and mobile apps. He has spearheaded innovations like MySafaricom App, which offers users easier access to services like data purchases, M-Pesa, and customer care.
- Sustainability and Corporate Social Responsibility:
- Continuing Safaricom’s legacy of social impact, Ndegwa has maintained a focus on sustainability and social good. Initiatives include the expansion of the Safaricom Foundation’s work in education, health, and environmental sustainability.
- Leadership During COVID-19:
- Ndegwa’s early days as CEO coincided with the COVID-19 pandemic. He led Safaricom in ensuring that communication services remained uninterrupted during the crisis. M-Pesa transaction fees were reduced or waived to encourage cashless transactions, and Safaricom also supported health efforts through donations of medical equipment and funds.
Leadership Style and Vision
Peter Ndegwa is known for his inclusive and visionary leadership style. He focuses on driving growth through innovation, while ensuring that Safaricom remains committed to its social responsibility initiatives. He has emphasized customer-centricity and agility, adapting Safaricom’s services to meet the rapidly changing digital landscape. Ndegwa is keen on youth empowerment, fostering talent, and positioning Safaricom as a key player in driving Kenya’s digital economy.
Ndegwa’s tenure has been characterized by balancing Safaricom’s commercial interests with social impact, ensuring that the company remains a strong driver of economic development in Kenya and beyond.
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