Sitoyo Lopokoiyit Moves back to Safaricom to head Financial Services

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Sitoyo Lopokoiyit will be coming back to Safaricom as Director Financial Services effective 1st of March 2018. For the last two and half years, Sitoyo has been on assignment to Vodacom Tanzania PLC as the M-Commerce Director, where he succeeded in invigorating the Vodacom brand in a new and critical market.

During his time at Vodacom, he oversaw the delivery of a transformative M-PESA agenda with key highlights being that he led an aggressive turnaround strategy which resulted in an accelerated growth of M-PESA in Vodacom Tanzania.

Sitoyo first joined Safaricom in July 2011 as Head of M-PESA Strategy and Business Development, a role he held until September 2015 after which he moved to Vodacom Tanzania as Director M-Commerce. While there, he was also a Vodacom Foundation Board Member and part of the EXCO team that handled the various challenges in the market successfully. Today, M-PESA in Tanzania is the market leader in all aspects and contributes 30% of Vodacom Tanzania PLC revenue.

Mr. Sitoyo will now be heading back to Safaricom to take up the new role of building a future-proof M-PESA.

Acting financial services director, Brian Wamatu has for the past few ears provided the stable leadership necessary for the growth an dominance of MPESA as the preferred money transfer platform. Brian also played a key role in the launch of Thibitisha, an initiative aimed at driving reduction of calls at the Call Centre. He has also guided the team in the launch of M-PESA Express focusing on online payments and the inclusion of M-PESA in the Safaricom App.

In the last few years alone, MPESA has seen a massive growth in revenue hitting an upwards of Ksh 115 billion. Profits are set to grow above the 50 billion mark this year after a steady year only interrupted by few attacks on various Safaricom’s infrastructure.

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Melissa Daniels
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