Safaricom Plc Chief Financial Services Officer Esther Masese Waititu resigned from the telecommunications company, with her departure taking effect on 31 July 2026.
Safaricom’s CEO, Peter Ndegwa, informed staff in a memo that Waititu was leaving the telco giant to pursue other opportunities.
“I wish to announce that Esther Waititu, our Chief Financial Services Officer, will be leaving Safaricom to pursue other opportunities. At her request, the company has agreed that her last working day will be 31st July, 2026,” read part of the memo.
Waititu’s exit adds to a series of high-profile changes at Kenya’s largest telecom operator, following the movement of other senior executives, including Michael Mutiga, who left Safaricom to become Chief Executive Officer of Stanbic Bank Kenya and South Sudan, and former M-PESA Managing Director Sitoyo Lopokoiyit, who joined Absa Group.
Esther Masese Waititu Exits Safaricom
Waititu joined Safaricom in 2023 as Chief Financial Services Officer, to lead the company’s Financial Services Business. In her role, she was responsible for driving innovation and championing financial inclusion and wellness for individuals and enterprises.
Also Read: Stanbic Bank Appoints Safaricom’s Michael Mutiga as New CEO
Before joining Safaricom, Waititu had 15 years of experience in banking and financial services.
She held senior positions in institutions including Commercial Bank of Africa, Standard Chartered Bank, Stanbic Bank, and KCB Group, where she served as Director of Corporate Banking
Ndegwa praised Waititu’s contribution to Safaricom’s growth in Fintech 2.0 migration.
“Among Esther’s defining achievements is her modernization of M-Pesa’s technological infrastructure. She spearheaded the migration to Fintech 2.0, a cloud native architecture that future-proofed the platform’s reliability and sealed the Daraja developer ecosystem,” said Ndegwa
Under her leadership, Safaricom expanded initiatives to improve digital payments, investment access, and financial inclusion. One of the notable products launched during her tenure was Ziidi Trader, an M-PESA mini-app that allows customers to buy and sell shares listed on the Nairobi Securities Exchange.
She also oversaw efforts to modernize M-PESA’s technology infrastructure, including migrating to Fintech 2.0 architecture to improve scalability, reliability, and innovation.
Safaricom Appoints Interim Financial Services Chief After Exit
Following Waititu’s resignation, Safaricom has appointed Boniface Mungania as the interim Chief Financial Services Officer.
Mungania previously served as Director of Public Sector Digital Transformation at Safaricom, where he was responsible for driving digital solutions and partnerships involving government services.
Mungania’s appointment ensures continuity within the financial services in the telco giant.
The leadership change comes at a critical time as Safaricom continues to compete in the expanding digital finance sector, where traditional banks, fintech companies, and mobile operators are increasingly competing for customers.
Also Read: How Next Safaricom CEO Will be Appointed Under New Formula
Growing Wave of Safaricom Executive Departures
Waititu’s resignation follows several major executive exits from Safaricom in recent months.
Michael Mutiga, who served as Safaricom’s Chief Enterprise Business Officer, recently departed the company to take up the role of CEO at Stanbic Bank Kenya and South Sudan.
Sitoyo Lopokoiyit also exited Safaricom, effective March 31, and previously served as the Chief Executive Officer (CEO) of M-Pesa Africa and as the acting Chief Financial Services Officer (CFSO) at Safaricom.
Sitoyo joined Absa Group as Chief Executive of the Group’s Personal and Private Banking, effective April 1, 2026
During his time at Safaricom, Lopokoiyit was associated with the expansion of M-PESA products and the growth of M-PESA into a broader financial services platform.
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