Kenya’s leading telecommunications company Safaricom has appointed Sitoyo Lopokoiyit as the M-Pesa Africa Managing Director with effect from April 1.

Safaricom CEO Peter Ndegwa said the telcos will start the process of sourcing for someone to replace Lopokoiyit as the company’s Chief Financial Services Officer.

He has been working at Safaricom PLC since April 1, 2018 and previously served as the Vodacom Tanzania PLC M-Commerce Director from October 2015.

Ndegwa said Lopokoiyit will continue acting as the CFSO until a replacement is found.

As the new M-Pesa Africa MD, he is expected to grow M-Pesa into a fully-fledged financial platform and will also handle New Business Ventures as well as Product Management & Development for Consumer and Enterprise.

At Vodacom, Lopokoiyit supervised delivery of innovative products and services while paved way for an accelerated growth of the M-Pesa mobile payment platform in Tanzania.

They include G2 platform, M-Pesa APP, interoperable transactions for peer to peer (P2P) and merchant payments, business to business (B2B) payments, M-Pesa CVM as well as merchant payments.

Before he joined Vodacom Tanzania PLC, he was the Safaricom M-Pesa Strategy and Business Development head and has more than 10 years of senior managerial experience.

Lopokoiyit holds a Bachelor of Commerce degree in marketing from the University of Nairobi (2000) and an MSc in IT Management and Organisational Change from Lancaster University in the UK.