Safaricom names Boniface Mungania new financial services chief

Safaricom has confirmed Boniface Mungania as its new Chief Financial Services Officer, ending nearly three months of acting leadership and placing a long-serving company executive in charge of one of its key business divisions.

The telecommunications firm announced the appointment on Friday, November 6, 2026, saying it took effect on November 1 after all the required regulatory approvals were secured.

Mungania takes over from Esther Masese Waititu, who exited the position in July 2026. He will report directly to Safaricom's Chief Executive Officer.

His appointment follows a career spanning nearly 20 years, during which he has gained experience in financial services, digital transformation, customer care and business development, largely within Safaricom.

Mungania joined the company in 2007 as a Customer Care Representative, marking the beginning of his career at the telecommunications firm. He later moved into management positions, taking on responsibilities across different departments as he rose through the organisation.

Among the roles he has held are Senior Manager for M-PESA Business Development, Mobile Financial Services Consultant at Vodafone Qatar, Head of M-PESA Products and Services Development and Payments Tribe Lead.

Before being confirmed to his new position, Mungania served as Director of Public Sector Digital Transformation, where he oversaw programmes designed to increase the adoption of digital services across different sectors of the Kenyan economy.

His responsibilities included leading nationwide digital transformation initiatives targeting agriculture, healthcare, micro, small and medium-sized enterprises (MSMEs) and public finance.

Safaricom said his work also contributed to the growth and development of key digital systems, including application programming interfaces (APIs), digital identity platforms and national payments systems.

His experience in developing financial products and expanding digital payment services is expected to be central to his new responsibilities, particularly as Safaricom continues to strengthen its financial technology business.

Throughout his career, Mungania has played a role in developing and expanding products and innovations that have influenced how customers make payments, save money and access financial services.

The company also recognised his efforts in promoting agile working methods, which it said helped improve innovation and operational efficiency across its business operations.

His previous involvement in M-PESA product development and business expansion gives him experience in managing a portfolio that remains a major part of Safaricom's operations.

Safaricom noted that his familiarity with the company's operations, customer needs and the changing financial services sector would be valuable as he assumes leadership of the division.

Beyond his corporate responsibilities, Mungania has received several recognitions for his contribution to the company and national digital transformation efforts.

Among the honours he has received is the Order of the Grand Warrior (OGW), a national award recognising his role in driving transformative programmes.

Academically, Mungania holds a Bachelor of Science degree and is currently pursuing a Master of Science in Entrepreneurship at Jomo Kenyatta University of Agriculture and Technology (JKUAT).

His confirmation brings to an end the temporary leadership arrangement that followed Waititu's departure in July, with Mungania having served in an acting capacity from August.

Safaricom congratulated him on his appointment and wished him success as he takes charge of the financial services division.

The appointment comes as the company continues to develop its digital financial services business and expand technology-based solutions across various sectors.