Inside Safaricom Top Executive Shake-Up

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More than half of Safaricom’s executives have quit the telco over the past two years; allowing CEO Peter Ndegwa who replaced Bob Collymore in April 2020 to build his own team.

Eight executives occupying the 11 C-suite seats at Safaricom have left during the period under review for roles outside the firm or at British Vodafone and South Africa’s Vodacom; which have a combined 40 percent stake in the Kenyan company.

This has allowed the firm to tap new skills in Kenya’s evolving telecoms market; and shape the management in line with Mr Ndegwa’s strategy that seeks to maintain Safaricom’s profit trajectory. The changes in the corner office come at a time. Safaricom’s mobile money platform M-Pesa has overtaken voice to become the biggest revenue earner for the company; underlining the growth of the financial service that was launched in 2007.

Safaricom is seeking regulatory approvals to launch insurance, unit trust and savings products as it races for a larger piece of the financial services market and taps more earnings from mobile money platform M-Pesa.

-Busniessdaily

https://www.businessdailyafrica.com/bd/corporate/companies/inside-safaricom-top-executive-shake-up-3885496

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