Esther Waititu leaves Safaricom as banks continue hiring top M-Pesa executives
By Mustafa Juma, July 20, 2026Safaricom is experiencing a fresh wave of executive changes after its Chief Financial Services Officer (CFSO), Esther Masese Waititu, resigned, becoming the latest senior executive to leave Kenya’s largest telecommunications company in recent months.
Waititu will officially leave the company on July 31, 2026, ending a tenure of more than three years during which she oversaw Safaricom’s highly profitable financial services business, including M-PESA, one of Africa’s largest mobile money platforms.
Safaricom Chief Executive Officer Peter Ndegwa informed staff of her departure through an internal memo, saying the executive had decided to pursue other opportunities.
Another high-profile departure
Waititu’s exit comes amid a series of leadership changes at the Nairobi Securities Exchange-listed telecommunications giant.
Her resignation follows the recent departure of Michael Mutiga, who left Safaricom after being appointed Chief Executive Officer of Stanbic Bank Kenya, as well as Sitoyo Lopokoiyit, the former Managing Director of M-PESA Africa, who earlier joined Absa Bank Kenya.
The latest resignation has fuelled speculation over an ongoing transition within Safaricom’s top leadership as the company continues repositioning itself beyond its traditional telecommunications business into a broader technology and financial services company.
Led M-PESA’s financial services transformation
Waititu joined Safaricom in February 2023 as Chief Financial Services Officer after an extensive career in Kenya’s banking sector.
Before joining the telecommunications firm, she held senior leadership positions at KCB Group and had previously worked at Commercial Bank of Africa (now NCBA), where she steadily rose through the ranks in corporate and investment banking.
At Safaricom, she was tasked with providing strategic leadership to the company’s financial services business, overseeing innovation, digital financial products and the continued growth of M-PESA.
During her tenure, the company accelerated several initiatives aimed at strengthening M-PESA’s digital ecosystem, modernising its technology infrastructure and expanding financial inclusion for individuals and businesses.
One of Safaricom’s most important roles
The Chief Financial Services Officer occupies one of the most influential positions within Safaricom’s executive team.
The role oversees M-PESA, whose revenues have become a major pillar of Safaricom’s profitability over the years.
Financial services continue to account for a significant share of the company’s earnings, with M-PESA evolving beyond person-to-person money transfers into a broader platform offering savings, credit, investments, merchant payments and digital financial solutions.
Safaricom’s evolving strategy
Under CEO Peter Ndegwa, Safaricom has continued transforming itself from a telecommunications operator into a technology company, investing heavily in fintech, cloud services, digital payments and enterprise solutions.
The company has also expanded beyond Kenya through its operations in Ethiopia while continuing to invest in M-PESA’s regional growth.
The executive changes come as Safaricom pursues its long-term strategy of diversifying revenue streams amid increasing competition in Kenya’s telecommunications and financial technology sectors.