Safaricom Confirms Boniface Mungania as Chief Financial Services Officer

Safaricom has confirmed Boniface Mungania as its Chief Financial Services Officer following regulatory approvals, formalising his appointment after serving in an acting capacity since July 2026.

Mungania assumed the position on November 1, 2026, and will report directly to the Chief Executive Officer. His confirmation comes as the telecommunications company continues expanding its financial services business, with M-PESA remaining a major contributor to its growth.

According to Safaricom’s official leadership profile, Mungania brings close to two decades of experience spanning financial services, digital transformation, customer care and business development.

He joined Safaricom in 2007 as a Customer Care Representative, beginning a career that has seen him rise through several leadership positions within the organisation.

His previous roles include Senior Manager, M-PESA Business Development, Mobile Financial Services Consultant at Vodafone Qatar, Head of M-PESA Products and Services Development and Payments Tribe Lead.

Before his confirmation as Chief Financial Services Officer, he served as Director of Public Sector Digital Transformation, where he led initiatives aimed at advancing digital infrastructure across different sectors of the economy.

Boniface Mungania’s Role in Safaricom’s Digital Transformation

Throughout his career, Mungania has played a role in developing and scaling financial services innovations that have changed how customers transact, save and access digital financial products.

His experience also includes championing agile working methods, innovation and operational efficiency across Safaricom’s business operations.

In his most recent position, he oversaw nationwide digital transformation initiatives supporting sectors such as agriculture, healthcare, micro, small and medium enterprises (MSMEs) and public finance.

His work also contributed to the development of digital infrastructure, including application programming interfaces (APIs), digital identity systems and national payments platforms.

The experience is expected to be relevant to his new position as Safaricom continues strengthening the integration of mobile money, digital payments and other financial services.

Academic Background and National Recognition

Mungania’s contributions to Safaricom and national digital transformation programmes have earned him several recognitions, including the Order of the Grand Warrior (OGW), a national honour awarded in recognition of distinguished service.

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

His professional journey, from customer care to senior executive leadership, reflects his long-standing experience within Safaricom and the wider financial services sector.

Appointment Comes as Safaricom Reports Strong Financial Growth

Mungania’s confirmation follows Safaricom’s strong financial performance for the half-year period ended September 2026.

The company reported a 13.1 per cent increase in Group service revenue to KSh226.1 billion, reflecting growth across its Kenyan and Ethiopian operations.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 27.5 per cent to KSh129.2 billion, while net income rose by 35.9 per cent to KSh58.2 billion.

M-PESA remained a key contributor to the performance, with its revenue in Kenya growing by 13.6 per cent to KSh100.1 billion.

The results highlight the growing importance of financial services to Safaricom’s overall business as the company expands beyond traditional telecommunications.

More details on the company’s performance are available in Safaricom’s half-year financial results coverage.

M-PESA and Safaricom Maintain Strong Brand Recognition in Kenya

Mungania takes up the new role at a time when Safaricom and M-PESA continue to command strong consumer recognition in the Kenyan market.

In the 2026 Superbrands East Africa consumer ranking, M-PESA emerged as Kenya’s leading brand, followed by Safaricom in second position. The survey, conducted by Kantar, involved more than 2,250 consumers who assessed over 1,900 brands across 112 categories.

The ranking assessed consumer perceptions of quality, reliability and distinction, rather than financial brand value.

The results underline the strong market presence of the two brands and the importance of customer trust in sustaining their position in Kenya’s digital economy.

Read more about the 2026 Superbrands ranking of Kenya’s leading brands.