Subject to regulatory approval, Safaricom has appointed John Ngumi as its director and Chairman of the Board, beginning August 1.
Ngumi will succeed Michael Joseph, who has served as Board Chair since July 2020.
Michael joined the firm in 2000 as CEO and leaves after a 22-year career in which he was responsible in the launch of significant products such as M-PESA in 2007.
“Ngumi has established himself as East Africa’s foremost corporate and investment banker with 35 years experience, working with local and international/global corporates, state-owned enterprises, sovereigns, and financial services groups,” Safaricom said in a statement.
He is an experienced director who has worked in both private and state-owned organizations.
Ngumi is currently the Board Chair of the Industrial & Commercial Development Corporation (ICDC), which is in charge of implementing the Kenya Transport & Logistics Network, which includes Kenya Ports Authority, Kenya Pipeline Company Limited, and Kenya Railways Corporation.
He is also a director of Kenya Airways PLC.
Mdlalose Sitholizwe, the company’s secretary, has also resigned.
“The Board also announces the resignation of Sitholizwe Mdlalose with effect from August 1. We take this opportunity to thank Sitho for his service, dedication, sound advice, and commitment to the company with particular reference to his invaluable contribution to the board audit, risk and compliance committee,” the statement read.