Safaricom has announced the resignation of its long-serving director, Michael Joseph, effective from August 1, 2023.
Joseph, who was the founding CEO of Safaricom in 2000, has held various positions in the company, including general manager, CEO (twice), director and chairman of the board. He has also chaired and served in several board committees.
According to a statement by Safaricom’s company secretary Kathryn Maundu, Joseph steered the company from a subscriber base of less than 18,000 in 2000 to over 17 million subscribers by his retirement in November 2010, making it the most successful company in East Africa.
“Michael leaves the board to focus on other ventures in his life including continuing his role as Chairman of Kenya Airways and being a director in various organizations. He will continue to pursue his passions in matters conservation and community service,” Maundu said.
She added that Joseph was behind the launch and growth of M-PESA, Safaricom’s mobile money service that has transformed the lives of millions of Kenyans. He also initiated the Safaricom and M-PESA Foundations, which have supported many projects in education, health, culture and conservation.
“He also was behind the launch of both the Safaricom and M-PESA Foundations which have supported many projects throughout Kenya in education, health, culture and conservation to name a few. He, together with the late Bob Collymore, launched the highly successful M-PESA Foundation Academy,” Maundu said.
She also credited Joseph for the important advances that Safaricom has made over the years, such as issuing its first bond, going public in 2007 and expanding into Ethiopia.
“The Board takes this opportunity to thank Michael for his dedicated service, sound advice and commitment to Safaricom and wishes him the very best for the future,” Maundu said.