This archive report was first published on 11 June 2020.
Published on June 11, 2020, Safaricom's Chief Financial Officer Sateesh Kamath has left his position to join Vodafone Business as Chief Financial Officer (CFO).
According to a statement released by Safaricom, Kamath will be reporting to Vinod Kumar, Chief Executive Officer of Vodafone Business, and will become a member of Vodafone Group Finance leadership team.
Under Kamath's leadership, Safaricom has achieved significant success, including a 50% increase in shareholder value to Sh1.2 trillion and improved business performance through Fit-for-Future initiatives.
He played a key role in the acquisition of M-Pesa Joint Venture from Vodafone and the purchase of critical spectrum.
Appointed CFO in 2016 to replace John Tombleson, Kamath's exit marks the second high-profile boardroom change at one of the region's largest companies by profits.
As Safaricom anticipates launching M-Pesa in other African countries and a unit trust investment product, Kamath's departure comes at a time of significant growth for the company, particularly in its mobile money and data divisions.
