This archive report was first published on 30 June 2020.
On June 30, 2020, Safaricom announced the appointment of Ilanna Darcy as its new Chief Finance Officer (CFO) in an interim capacity, effective July 1, 2020.
Ms. Darcy takes over from Sateesh Kamath, who has been promoted to the Vodafone Business CFO position. The CFO role at Safaricom is the second most powerful position in the company.
According to Safaricom's CEO, Peter Ndegwa, Ms. Darcy will be responsible for the overall financial planning, management, and oversight of the organization.
Ms. Darcy has over 20 years of experience, with 13 years at a senior level, and has worked across three continents in the retail, FMCG, and telecommunications sectors.
She previously worked as the head of Finance Planning, Analysis, and Investor Relations at Safaricom, a position she has held since February 2017. Prior to joining Safaricom, she worked as the CFO for Digicel Group in South East Asia.
Ms. Darcy's appointment is seen as a strategic move to strengthen Safaricom's financial leadership, particularly in the wake of the company's strong financial performance in the 2020 fiscal year.
During the period, Safaricom's net profit jumped 19.54% to Ksh74.7 billion ($747 million), driven by strong growth in M-Pesa and mobile data revenue.
