Safaricom Replaces Michael Joseph as Chairman

Safaricom has announced the appointment of John Ngumi as a director and also chairman of the firm's board replacing Michael Joseph. 

In a notice on Friday, July 29, Safaricom stated that the changes would take effect from 1st August 2022. 

"Mr. Ngumi is one of Kenya’s most celebrated bankers. During a 35-year banking career, he established himself as East Africa’s foremost corporate and investment banker, working with local and international/ global corporates that have an East African regional presence, state-owned enterprises, sovereigns, and financial services, groups.

"He is a seasoned director having drawn his experience in both private companies and state-owned enterprises. For the latter, he is best known as the inaugural Board Chair at Konza Technopolis Development Authority and as an extremely active and effective Board Chair at Kenya Pipeline Company Limited," part of the statement read. 

Mr. Ngumi currently serves as Board Chair at the Industrial & Commercial Development Corporation (ICDC). He also serves on the board of Kenya Airways PLC.

He replaces Mr. Joseph who was appointed Safaricom's chairman following the retirement of Nicholas Ng'ang'a, who had been at the helm for 13 years.

"It is an honor to serve as the next Chairman of a company that I am passionate about and have been involved with ever since its inception. It is with humility that I take over from Mr. Nganga, whose leadership, wisdom, and guidance has led Safaricom to where it is in the 13 years, he has been the Chairman of the Board. As I take up the new role, I am optimistic of the great opportunities ahead to work with the Board, Peter and the entire Safaricom team to continue to transform lives," Mr. Joseph said while taking the position. 

In the statement then by Safaricom CEO Peter Ndegwa, the tenure of Joseph took effect from August 1, 2020.