Safaricom’s e-commerce platform, Masoko seems to have done away with most of the items on its platform and focused on smart phones and their accessories.
Safaricom seems to be changing the strategy of its subsidiary as promised by the interim CEO, Michael Joseph during the announcement of half year results recently.
A visit to the website, shows that all other products have been removed and now looks more like an online Safaricom shop.
The Interim CEO, Michael Joseph had said, “Masoko hasn’t proven to be as successful as we would have liked.”
During the Afri-Asia Fintech Festival in July, the firm had announced plans to take Masoko beyond Kenyan borders with Chief Financial Services Officer, Sitoyo Lopokoiyit saying, “We see endless possibilities for business beyond borders. We are currently reviewing our e-commerce proposition Masoko to ensure that we are positioned ready to take off.”
The firm is yet to release a statement on the same and it is not clear yet if they’ll continue with the plans of expanding beyond Kenya. As the firm eyes Ethiopian market, that might be the first external market for Masoko too, should they get a license to operate.
Michael added, “We still need to be in that business. Since I came in, we have relooked at it, how are we doing it, what strategies do we have, is it cost effective?”