Esther Masese Waititu is shaping the future of digital finance in Kenya and beyond through her leadership at Safaricom.
Esther Waititu is a Kenyan finance executive currently serving as the Chief Financial Services Officer (CFSO) at Safaricom PLC, one of East Africa’s largest telecommunications and digital service providers. Since her appointment in February 2023, she has overseen Safaricom’s financial services portfolio, including expanding mobile money solutions and digital finance products across Kenya and the region.
Professional background and education
Waititu holds a Bachelor of Business Administration from the University of Eastern Africa, Baraton, and an MBA from the University of Liverpool in the United Kingdom. She is also a certified executive coach and a trustee for multiple asset management organisations regulated by Kenya’s Capital Markets Authority, showing her broader involvement in governance and financial oversight.
With over 15 years of experience in the financial sector, her career has encompassed leadership roles in various domains such as strategy, product management, risk, and operations. She has worked across multiple countries in East and Southern Africa, managing teams and large portfolios. At one juncture, she led a team of over 70 individuals and oversaw revenues exceeding $500 million, with loan assets surpassing $1 billion.
Safaricom’s role in financial services
Safaricom is widely recognised for its contributions to mobile technology in Kenya, particularly through the M-PESA platform — a mobile money service that has become central to daily financial transactions for millions of Kenyans. It began as a basic mobile payment system and has grown into a broader financial ecosystem, offering credit, savings, insurance, and investment services.
The company’s financial services division significantly influences its overall performance. According to recent reports, M-PESA accounts for over 44% of Safaricom’s service revenue, with a 15.2% year-on-year growth rate and a user base exceeding 35 million active customers in Kenya.
Leadership focus and current role
Since stepping into her role, Esther Waititu has focused on refining and broadening Safaricom’s financial offerings. Her approach focuses on user needs, particularly among underserved and remote populations, to improve access to digital financial tools. Under her watch, the company has continued to scale initiatives such as the M-PESA Financial Literacy toolkit and participated in programs like Inua Jamii, which distributes social welfare payments to senior citizens and vulnerable communities via mobile platforms.
In addition to growing services within Kenya, Waititu is also helping lead the expansion of M-PESA into Ethiopia. It has already registered around 2.4 million active users, and further plans are underway to broaden its footprint.
“M-PESA’s future success will be based on its ease of use, and its seamless integration with other services and products to give customers a comprehensive suite of financial services at their fingertips. M-PESA represents the future of mobile financial services across the continent.”~Watitu is quoted as saying.
While Safaricom remains dominant in Kenya’s telecom and fintech space, the industry is evolving quickly. As Esther Masese Waititu continues to lead the company’s financial services arm, she focuses on adapting Safaricom’s offerings to fit changing consumer behaviours, regulatory environments, and regional opportunities.
