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Kenya’s telecoms operator, Safaricom, has set sights on engaging with software engineering firms to expand its in-house mobile applications platforms as it seeks to create new revenue streams.
The move will pull Kenya’s well-resourced app developers together to develop innovative applications that will boost Safaricom’s revenues as its voice business matures.
“The partners will co-create the software with Safaricom, the partners can then agree on a marketing and operations model,” said Safaricom in internal documents seen, reports said.
Safaricom, which is part-owned by South Africa’s Vodacom and UK’s Vodafone, has always been at the forefront of digital innovation in Kenya. The company launched M-Pesa, a mobile money transfer platform more than a decade ago and it has become one of the most popular modes of payment in Kenya.
At the end September 2020 M-Pesa had nearly 27 million active users in a population of 47 million. The platform has since been transformed into a fully-fledged financial service platform, offering loans and savings in partnership with local banks, plus merchant payment services.
Safaricom has also introduced Digifarm, a platform that offers farmers credit and insurance against weather damage as well as training programmes, and advice on soil testing to increase yields. Digifarm bypasses middlemen, giving small-holder farmers direct access to low-cost seeds and fertiliser, credit providers, and bulk purchasers of their produce.
Kenya’s fast-growing technology sector, has attracted many international investors and entrepreneurs supported by a pool of well-resourced software app developers in the country.
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