Safaricom Appoints New Board Chairman

Sourced from CGTN. Safaricom has appointed Michael Joseph (the telco’s former CEO) as new board chairman, he succeeds Nicholas Ng’ang’a who has retired. Joseph will take up this position effective 1 August 2020. “Mr Ng’ang’a took up the leadership reins at a time when the government was starting the process of offering 25 per cent of its shares to the public through the Nairobi Securities Exchange in 2008. He has managed to grow shareholder value by 607 per cent since listing,” says Safaricom CEO, Peter Ndegwa. “At the time of his appointment as chairman, Safaricom had slightly over six million customers, 1,000 employees and only eight Safaricom shops across the country. Mr Ng’ang’a retires from the telco that now serves over 35.6 million customers, across 50 shops and hundreds of service ...