Peter Ndegwa has been appointed as chief executive officer of Safaricom.
Safaricom “BOD [Board of Directors] is pleased to announce Peter Ndegwa as CEO effective April 1, 2020,” reads a statement announcing the development posted on Twitter.
The post fell vacant when Bob Collymore, who had occupied the position for almost a decade passed on July 1.
In the interim, the company appointed Michael Joseph as acting CEO. He is the current chairman of Kenya Airways and he was Collymore’s predecessor.
Ndegwa joins Kenya’s most profitable company with 25 years of experience, working with multinationals including PricewaterhouseCoopers, East African Breweries Limited and Diageo, the maker of Guinness beer.
A holder of Master of Business Administration (Finance & Strategy) from London Business School, he was until this appointment the managing director of Diageo, overseeing European operations, according to his LinkedIn profile.
More importantly, he is the first Kenyan CEO of Safaricom, which controls about 62 percent of Kenya’s mobile market.
The telco has over 30 million subscribers and it is remarkably recognized for introducing mobile money in East Africa via M-Pesa.
M-Pesa is currently used by over 13 million people.
Safaricom is majorly owned by the Government of Kenya and Vodacom, both holding a 35 percent stake, according to the company website.
Vodafone owns 5 percent of the company and the other 25 percent is owned by private investors through the stock market.