PETER NDEGWA DISMISSES CLAIMS OF GOVERNMENT-DRIVEN SAFARICOM BREAK-UP

Safaricom chief executive Peter Ndegwa has poured cold water on reports that the government is set to split the telecommunications giant into three separate entities.
Speaking on Wednesday September 24, 2025, Ndegwa said no formal talks have taken place between the government and Safaricom’s board over the proposal to carve out the company’s mobile services, M-Pesa platform and tower infrastructure into standalone firms.
He stressed that Safaricom’s growth has been built on the synergy between its telecom operations and M-Pesa, warning that an outright break-up could weaken the business model that has driven its success.
Ndegwa explained that the company is instead weighing a holding-company structure, which would allow its main divisions to operate as semi-autonomous subsidiaries while preserving the benefits of integration.
The CEO also noted that M-Pesa is already regulated by the Central Bank of Kenya and that the telco itself is overseen by the Communications Authority, saying existing oversight addresses many of the concerns driving the proposal.
The government, which owns about 35 per cent of Safaricom, has been exploring a restructuring to improve oversight and unlock value, but no timeline or binding decision has been set.