Safaricom CEO Peter Ndegwa (pictured) believes Africa is no longer playing catch-up in global technologies, telling attendees of a key business conference in Kenya the continent is now holding its own in developing fresh business models and tapping emerging digitalisation trends.

In a string of posts on a popular micro-blogging site, the operator reported Ndegwa told the Academy of International Business (AIB) Conference nations are increasingly looking to Africa for fresh approaches to delivering growth and innovation.

Africa is now “co-creating new models” and its views are ever-more sought after, Ndegwa said.

The Safaricom boss noted Africa was not immune to global challenges, but argued “turbulence can also drive transformation”.

He pointed to the Covid-19 (coronavirus) pandemic as an example, explaining the operator group “had to navigate regulatory changes, currency pressure”, greater competition and cybersecurity challenges.

The challenges fuelled a shift from “telco to techco” as Safaricom recognised “adaptability is now a competitive advantage”.

He noted global uncertainties continue today due to “geopolitical tension, economic volatility” and various disruptive technology developments including AI, meaning the ability to swiftly adjust is still essential.

Ndegwa said the m-Pesa mobile money platform “remains the clearest example of African innovation” being used to address a local problem by looking to the bigger picture of what the system is for rather than focusing solely on technology.

He argued the platform shows what can be achieved in driving digital transformation when initiatives are backed by the right regulations and laws, along with “strong public-private collaborations”.

The three-day AIB event concluded today (29 May).

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