Safaricom’s next billion won’t come from new customers
Safaricom is making M-PESA payments cheaper, increasing data bundles and boosting fibre speeds as it shifts its focus from winning new customers to getting existing ones to use more of its services.
Safaricom, Kenya's largest telecommunications company, is focusing on driving growth through existing customers rather than acquiring new ones. To achieve this, the company announced a series of cost-saving measures and service enhancements under the Pata More initiative, which aims to increase value and convenience for users. Under this new customer value offering, Safaricom is reducing the cost of making small-value M-PESA payments, increasing mobile data allocations, and boosting fiber Internet speeds.
The company is also expanding data bundle sizes and offering cheaper merchant payments. These changes, aimed at encouraging customers to use its services more frequently, are part of a long-term customer value proposition that reflects evolving customer needs and a shift in the competitive landscape. Safaricom believes that by making everyday digital payments more affordable and convenient, it can encourage more merchants to accept M-PESA and create a broader ecosystem of services for customers to use.
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