Masoko online retailer by Kenya’s largest telco Safaricom has revealed their expansion plans into more sub- Saharan countries in 2020. The growth has been cited to take on the rising opportunities across the sub-Saharan region to meet consumer demands. The company states there’s an estimated growth in smartphones which will hit a 525million mark by the end of 2020.
“We see endless possibilities for business beyond borders,” stated Sitoyo Lopokoiyit, Chief Financial Services Officer, Safaricom. He added the company is “currently reviewing their (our) e-commerce proposition Masoko to ensure that we are positioned ready to take off.”
He further stated that with the current mobile penetration at 100% in Kenya, it is possible “to use these devices as powerful tools for social and economic development.”
This is part of the big plans the company is currently having for their e-commerce platform, which will be both beneficial to small businesses too. Safaricom has also fuelled its ambitions to helping Fintech innovations by creating a platform which now boasts over 16,000 Fintech developers to support their goals of developing new products and services that are beneficial to consumers.
The company has also recently made their APIs publicly available, thus helping both big businesses and SMEs connect with MPESA services easily –in less than 10 minutes as Safaricom states.
Besides the news comes a few months after Safaricom partnered with the Chinese e-commerce platform Aliexpress in March to expand into the country by adding MPESA as a payment option.