This archive report was first published on 24 October 2019.
Kenya's Safaricom Appoints New CEO Amidst Challenges ¶
October 24, 2019
Kenya's leading mobile operator, Safaricom, has appointed Peter Ndegwa as its new Chief Executive Officer (CEO). Ndegwa, a Kenyan, takes over from acting CEO Michael Joseph, marking a shift from foreign CEOs to a local leader.
Ndegwa, who has been Managing Director of Continental Europe at Diageo since July 2018, brings a wealth of experience in the corporate world. He has held various leadership positions, including a stint at PwC, and holds an MBA from the London Business School and a Bachelor's degree in Economics from the University of Nairobi.
At Safaricom, Ndegwa will face numerous challenges, including customer trust and competition from a planned merger between Airtel Kenya and Telkom Kenya. The merger will create a two-horse race for market share, presenting an environment for price wars that can easily cause hemorrhage for Safaricom.
“Instead of just looking at what governments can do, we need to acknowledge that large organisations can improve society and shift how people think and feel,” says Mr Ndegwa. “For me, this is about working with others to build sustainable businesses that can make a difference in people’s lives.”
The Safaricom Board chairman, Nicholas Ng’ang’a, expressed confidence in Ndegwa's ability to carry out the company's vision of transforming lives while keeping customers' needs at the forefront.
“We are confident that Peter will carry on our vision of transforming lives while keeping us focused on meeting our customers’ needs and holding us to our new commitment of being Simple, Transparent and Honest,” Ng’ang’a said.
Ndegwa's appointment comes at a critical time for Safaricom, which has faced criticism for its high charges and complex charging system. The company's new strategy focuses on being “simple, transparent and honest,” and Ndegwa will need to pull out something extraordinary to clear the hangovers of his predecessors.
