Boniface Mungania made permanent head of Safaricom's M-PESA business

Safaricom has confirmed Boniface Mungania as its permanent Chief Financial Services Officer, the executive in charge of M-PESA, but the sources do not explain why Kenyans are searching for the service.

What happened

Safaricom has made Boniface Mungania its permanent Chief Financial Services Officer, the executive in charge of M-PESA and the money products built on it [1][3]. The appointment took effect on 1 November 2026 and was announced on 6 November [1]. He reports directly to chief executive Peter Ndegwa [1][3]. He succeeds Esther Masese Waititu, who left at the end of July after about three years [3]. The sources differ on when his interim period began. One says he has been doing the job since Waititu left at the end of July [1]; another says he has been interim since August [3]. One source also says he acted in this role from mid-2022, a detail that Safaricom's announcement does not mention [1].

Why Kenyans are searching for it

The sources do not explain why people are searching for M-PESA. They describe a leadership appointment and recent financial results, but none ties these to a specific change in service, price or product that would prompt searches. This article therefore does not offer a reason.

Key facts

• M-PESA brought in KES 100.07 billion in the six months to September, 46.3% of Safaricom Kenya's service revenue [1]. Another source gives KES100.1 billion, up 13.6%, the first time M-PESA revenue passed KES100 billion in a half-year [3].
• M-PESA transactions rose 25.2% to 27.4 billion in the period, according to half-year results released on 5 November [3].
• In the six months to September, M-PESA moved KES 23.56 trillion [1].
• The products under the role include the Fuliza overdraft, M-Shwari, KCB M-PESA savings and loans, and the Ziidi investment product [1].
• Mungania joined Safaricom in 2007 as a customer care representative and has held several senior roles, including head of M-PESA products and services development [2][3].
• Before his interim appointment, he was Director of Public Sector Digital Transformation [3].
• On half-year profit, Business Daily reports a 72% rise to Sh50 billion, with Kenyan sales up 11.3% to Sh216 billion [4]. The same source gives a different earlier half-year figure, KSh42.78 billion, up 52.1%, and labels the periods differently from other sources. These figures are not fully reconciled.

What to watch

Sources point to several items. The Fuliza Ya Pochi overdraft, which targets more than one million qualifying micro-businesses, is expected to help bridge short-term cash-flow gaps [2]. Analysts expected stronger earnings as losses from Safaricom's Ethiopian operations narrow [4]. A Reuters headline reports that first-half profit rose as Ethiopia losses halved, but the available item contains only the headline [4]. The sources do not say what the new Chief Financial Services Officer will change in M-PESA's products or pricing.

Sources

1. [1] Boniface Mungania is now Safaricom's permanent M-PESA boss after three months as interim - tech-ish - Techish Kenya
2. [2] Boniface Mungania appointed Safaricom's new chief financial services officer - The Star, Kenya
3. [3] Safaricom confirms Mungania as M-PESA boss - Africa Business Communities
4. [4] Safaricom reports higher half-year profit, with M-Pesa revenue driving growth - Nairobi Tea

Compiled by the NairobiCity trend desk from the sources above.