Safaricom Appoints New CEO
Kenya’s largest company by market value, Safaricom, has appointed Peter Ndegwa as its new CEO from 1 April 2020 in the midst of plans for regional expansion and rapidly rising competition in Kenya.
Ndegwa currently manages Diageo’s operations in 50 countries in Eastern and Western Europe, Russia, North Africa and the Middle East, according to an e-mailed statement. He will be taking over from Michael Joseph, who has been leading the company in an acting capacity since the death of former CEO Bob Collymore.
The Vodacom Group unit has also revealed that it will release first-half financial statements on 1 November.
Ndegwa’s biggest hurdle might be fighting back the attempts to declare the telecoms company a dominant industry player, which could lead to it being broken up. A looming merger between Telkom Kenya and Airtel Kenya is also expected to create a stronger competitor for Safaricom.
Tracy Kivunyu, a Telecommunications Analyst at Tellimer, said that the appointment is a positive move because having a Kenyan CEO would go a long way in retiring the dominance debate at a critical time when Kenyans are expecting consolidation in the telecoms sector.
Credit: This article originated from www.techcentral.co.za