Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Safaricom’s e-commerce platform to focus on value for shoppers, vendors- Collymore

NAIROBI, Kenya, Aug 28 – Safaricom’s soon to be launched e-commerce platform will leverage on some of its recent investments and assets to deliver a differentiated online market in Kenya

In an interview with Capital Business, the company’s Chief Executive Bob Collymore says the recently released MPesa Application Programming Interface (API), for instance, will allow vendors develop payment solutions that will make transactions faster and efficient.

“The last API we had would take 60 days for applications to be integrated with MPesa. That was a huge frustration for businesses, big and small. The new API cuts that to three or four days,”

The e-commerce platform, known as Masoko, is expected to go live by October and will allow shoppers use different currencies and in multiple geographies.

Collymore says Safaricom has ventured into e-commerce to connect small businesses with consumers.

“We think there is a massive need for it both from a consumer to business perspective as well as from a business to business perspective,” says Collymore.

Masoko will compete directly with some established e-commerce platforms like Jumia and Kilimall, but Collymore says the platform is primarily for small businesses.

“The difference between us and some other players in the market is that we also want to work with tried and tested brands and merchants. Even if they are small merchants, we want to work with them to ensure they have quality products,” said Collymore, adding that these merchants are both from Kenya and outside the country.

Safaricom’s investment in on-demand delivery startup, Sendy, will partly answer Masoko’s distribution question as well as boost the startup’s expansion beyond Nairobi and Mombasa.

Advertisement. Scroll to continue reading.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...