Safaricom Taps KCB Exec as New Chief Financial Services Officer

Courtesy of Strathmore University

Safaricom is making some key changes to its management, and today’s development is the arrival of Esther Masese Waititu, who has been appointed as the Chief Financial Services Officer.

Her appointment is effective 21St February 2023, subject to regulatory approval.

Esther will be reporting to the CEO Peter Ndegwa and be in charge of leading Safaricom’s Financial Services Business by offering strategic guidance and management. She will head financial services departments and groups to create financial products, services, and solutions for both consumers and businesses.

She takes her new role from Boniface Mungania, who picked it from Sitoyo Lopokoiyit. Sitoyo is currently the Managing Director for M-PESA Africa.

READ MORE: With New Board Chair Adil Khawaja, Safaricom Fully Replaces Bob Collymore’s Team

Esther brings on board over 15 years of experience in the financial services sector and joins the telco from KCB Bank Group, where she has been Director, Corporate Banking since 2021.

Prior to joining KCB, Esther was at Stanbic for 10 years, having joined the bank in 2011 as a Regional Product Head — Transactional Products and Services, East Africa.

In 2017, she was promoted to Executive, Strategy Development and Enablement in the Corporate and Investment Bank before taking up the role of Country Head, Client Coverage, at Stanbic Bank Zambia, in 2020.

Esther worked at Standard Chartered Bank for 5 years, between 2006 and 2011 in Relationship Management and Product Management capacities, and at Commercial Bank of Africa (which merged with NIC Bank to form NCBA) where she began her banking career.

She holds a Bachelor of Business Administration degree from the University of East Africa, Baraton, and a Master of Business Administration from University of Liverpool, UK.

She is also an AoEC Accredited Executive Coach.