Kenyan telco Safaricom’s Alpha incubator faces uncertain future
With two high-level departures, and the passing of Safaricom’s CEO Bob Collymore, there are questions on how or if Alpha will continue to operate.
The space was established in 2017 to spur new product development for Safaricom, which is Kenya’s largest mobile operator and the provider of M-Pesa — East Africa’s most used mobile-money product.
As TechCrunch reported, one of the first objectives of Alpha was to build upon the success of M-Pesa.
As a telco, Safaricom has 69% of the Kenya’s mobile subscribers and generates around one-fourth ($531 million) of its ≈ $2.2 billion annual revenues (2018) from M-Pesa. The fintech product has 20.5 million customers across a network of 176,000 agents.
While these stats have put Safaricom in a coveted position, the company’s former CEO Bob Collymore expressed concerns over the risk of too many eggs in one basket. For years, Collymore pressed his company to diversify product and revenue streams.
Through in-house development and partnerships, Safaricom added to its mobile and fintech network consumer and small business-based products, such as ride-hail app Little and website services.
In 2017, Safaricom’s chief innovation officer and
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