Safaricom Plc has appointed Boniface Mungania as chief financial services officer, putting a longtime company executive in charge of its M-PESA business following the departure of his predecessor in July.
The appointment took effect on Nov. 1 after regulatory approval, Safaricom said. Mungania will report directly to the chief executive officer.
Mungania joined Safaricom in 2007 as a customer care representative and has held several positions across its financial services and digital operations, including head of M-PESA products and services development and payments tribe lead.
He previously served as director of public sector digital transformation, overseeing programmes targeting agriculture, healthcare, small businesses and public finance. He also worked as a mobile financial services consultant at Vodafone Qatar.
His appointment follows a series of management and board changes at the telecommunications company this year.
In August, Safaricom appointed Caroline Wambugu as group lead for finance controls, performance and investor relations, expanding her responsibilities to include financial reporting, tax, treasury and credit collections.
The company also appointed Vodacom Group executives Mariam Cassim and Matimba Mbungela as non-executive directors, replacing James Ludlow and John Kipngetich Mosonik.
At Safaricom Telecommunications Ethiopia, Samuel Munyua was appointed chief financial officer, effective Nov. 1. He previously served as Safaricom Group financial controller.
The changes come as Safaricom strengthens its financial services operations amid growing demand for digital payments. M-PESA remains a major contributor to the group’s business, with revenue from the service rising 13.6% to 100.1 billion shillings in the six months to September 2026.
Mungania holds a Bachelor of Science degree and is pursuing a master’s degree in entrepreneurship at Jomo Kenyatta University of Agriculture and Technology. He has also received the Order of the Grand Warrior, a Kenyan state honour.
