Sitoyo Lopokoiyit
Biography
Sitoyo Lopokoiyit is a mobile-financial services expert, who has managed mobile money in two of the largest markets in the world, Kenya and Tanzania. He is currently the Chairman of M-PESA (Tanzania), CEO of Safaricom Money Transfer Services, and the Interim Managing Director of M-Pesa Africa.
In his current role as Chief Financial Services Officer at Safaricom PLC, he is responsible for managing and growing M-PESA which has earned revenues of over $700mm wtih service growth of 19% yoy.
As a passionate, energetic and easy-going leader, Sitoyo has delivered major innovations that have encouraged financial inclusion and revolutionized the global mobile money space. Examples of his work include Fuliza, the world’s first contextual overdraft facility, M-Shwari, a savings and loan proposition, M-PESA Global Payments, along with partnerships with PayPal and Ali Express. Prior to Safaricom, Sitoyo served as the M-Commerce Director at Vodacom Tanzania, where he led the turnaround strategy for the adoption and execution of M-PESA and oversaw the delivery of several other transformative products and services such as the delivery of Mobile Money G2 platform, M-PESA app, interoperable transactions for both P2P and Merchant Payments, B2B payments, M-PESA CVM, and Merchant Payments. His work accelerated growth of M-PESA in Tanzania.
Sitoyo has over 15 years’ senior managerial experience from different fields; oil & Gas (Chevron and Total Kenya Ltd) and in the Retail industry within Kenya. He has worked extensively in the East Africa Region as well as in Mauritius and Reunion.
Sitoyo holds a Bachelor of Commerce (Hons) in Marketing from the University of Nairobi (2000) and a MSc in Information Technology Management and Organizational Change from Lancaster University in UK.
About Safaricom and M-PESA
Safaricom is the leading provider of converged communication solutions in Kenya. In addition to providing a broad range of first-class products and services for Telephony, Broadband Internet and Financial services, Safaricom seeks to uplift the welfare of Kenyans through value-added services and support for community projects.
With over 29 Million subscribers and an estimated market share of 67%, the Company has the widest modern mobile network coverage in Kenya and prides in its experienced shareholders, attractive tariffs, a nationwide network of effective dealers, high caliber staff and management enabling it to maintain its position as the region’s mobile market leader.
M-PESA has over 23 million subscribers, supported by a nationwide agent network of over 156,000 outlets. M-PESA is the world's most developed biggest mobile payment system.
Facts about Safaricom:
Employs over 5,500 staff directly and over 500,000 indirectly
Has approximately 4,945 network sites across the country
50% of employees and 32% of senior management working at Safaricom are women
Has the largest call center in Sub-Saharan Africa
Learn more at safaricom.co.ke