Michael Joseph takes over as new Safaricom Board Chairman
Michael Joseph is the new Safaricom Board Chairman following the retirement of Nicholas Nganga.
In a press statement released on Thursday, Safaricom CEO Peter Ndegwa said the appointment of Mr. Joseph takes effect starting August 1, 2020.
“Michael takes over from Mr. Nicholas Nganga who has been the chairman of the Board since 2007. Mr. Nganga joined the Board in May 2004 and was elected Chairman in January 2007. He has steered the company through various milestones over the 13 years he was at the helm,” Mr. Ndegwa said.
Mr. Joseph has served as a non executive Board member since 2008 and his new mandate will include improving customer sentiment, greater brand consideration and digital transformation agenda.
According to the Safaricom CEO, Mr. Joseph brings wealth of skills and industry knowledge given his contribution to the growth of the telco from “very humble beginnings to becoming one of the most innovative, influential and profitable companies” in East Africa.
Mr. Joseph takes over from Mr. Nganga who has been lauded as a dedicated and committed leader who took over the reins when the government began the process of offering 25% of its shares to the public through the Nairobi Stock Exchange (NSE) in 2008.
“Mr. Nganga managed to grow Safaricom’s shareholder value by 607% since listing and the money transfer service M-Pesa has been recognized as one of the top 10 most influential finance projects of the last 50 years,” Mr. Ndegwa added.
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