Leadership shake-up at M-PESA Africa as Sitoyo Lopokoiyit announces exit

Sitoyo Lopokoiyit, the Managing Director of M-PESA Africa, has announced that he will leave the company at the end of March 2026, bringing to a close nearly 15 years within the Safaricom and Vodacom ecosystem.

In an internal organisational announcement, colleagues were informed that Lopokoiyit will take up a new role outside the Vodacom Group. His last working day has been set for March 31, 2026.

Other credible sources with knowledge of the move say that he is set to take up a position as CEO, private and personal banking at Absa Group. 

Lopokoiyit has served as Managing Director of M-PESA Africa since April 2021, a period during which the mobile money platform expanded its continental footprint and deepened its fintech capabilities. 

Under his leadership, M-PESA scaled operations to eight African countries, reaching more than 60 million customers and over five million businesses.

During his tenure, the platform transitioned from its early identity as a peer-to-peer money transfer service into a broader financial services ecosystem. 

Today, M-PESA offers payments, savings, credit, merchant services, interoperable transfers and global payment integrations, positioning itself as one of Africa’s most prominent fintech products.

Lopokoiyit joined Safaricom in July 2011 as Head of M-PESA Strategy and Business Development. 

Over the years, he held several senior roles across the Safaricom and Vodacom networks, including Director of M-Commerce at Vodacom Tanzania and Chief Financial Services Officer at Safaricom PLC. 

As a member of Safaricom’s Executive Committee (EXCO), he was involved in shaping key strategic decisions within the company.

Before joining Safaricom, he worked at Caltex, then under Chevron Kenya Limited, where he served as Business Advisor and Merchandising Manager. 

The announcement notes that his early engagement with Safaricom during M-PESA’s formative years contributed to shaping the agent aggregator model, which later became widely adopted in mobile money markets.

He also played a role in forging international partnerships for the platform, working with global technology and financial services firms including Visa, Ant Financial, PayPal, Microsoft and Huawei. These collaborations helped integrate M-PESA into cross-border and global payment systems.

The company has not yet announced who will succeed him as Managing Director of M-PESA Africa.

Lopokoiyit’s departure comes at a time when digital financial services are facing increased competition across Africa, with telecom operators, banks and fintech startups vying for market share. 

His exit marks a significant leadership transition for one of the continent’s most influential mobile money platforms.