This archive report was first published on 30 July 2020.
July 30, 2020 - Safaricom has appointed Michael Joseph as its new board chairman, succeeding Nicholas Ng'ang'a who has retired after 13 years of service.
Ng'ang'a was at the helm of the Safaricom board when the company listed on the Nairobi Securities Exchange in 2008, offering 25 percent of its shares to the public. Under his leadership, Safaricom has grown shareholder value by 607 percent since listing.
At the time of his appointment as chairman, Safaricom had slightly over six million customers, 1,000 employees, and only eight shops across the country. Today, the telco serves over 35.6 million customers, across 50 shops and hundreds of service desks, with a staff force of over 6,500 employees.
As chairman, Joseph will oversee the operations, leadership, and governance of the Board, ensuring effectiveness and setting the agenda. He joined the board on September 8, 2008, and will assume the role effective August 1, 2020.
Joseph previously worked as the CEO of Safaricom from July 2000 until his retirement in November 2010, during which time the company grew from a customer base of less than 20,000 to over 16.71 million subscribers.
“He brings a wealth of skills and industry knowledge given his contribution to the growth of Safaricom from very humble beginnings to becoming one of the most innovative, influential, and profitable companies in the East African region,” said Safaricom chief executive officer Peter Ndegwa.
