Safaricom Plc plans to revamp its corporate structure in the next two years to make it easier to expand beyond Kenya and the East African market.
According to the CEO, the company will seek to convert into a holding firm that will house mobile-phone towers and its financial services businesses, which will also become wholly-owned units, Chief Executive Officer Peter Ndegwa said in an interview with Bloomberg.
He said the revamped structure will improve transparency about the company’s various businesses and may help to ease regulatory hurdles. This month, Safaricom is scheduled to begin operations in Ethiopia and is awaiting approval to offer its mobile-money service M-Pesa.
“The change is so that we run the businesses in a more sustainable way…We will continue to evolve the organization and then also look for skills that allow us to run these specific divisions,” Peter Ndegwa as quoted by Bloomberg.
He further added that they may look for investors at some point for its units, but that’s not the primary driver.
Read also; John Ngumi Appointed Chairman of Safaricom.
