Safaricom makes board changes

Safaricom Board Chairman Michael Joseph (PHOTO: FILE)

NAIROBI, KENYA: Dilip Pal has been appointed as an alternate director to Peter Ndegwa, Chief Executive Officer of Safaricom.

Dilip Pal assumed the role of Chief Finance Officer of the telecommunication company on November 1 having more than 29 years’ experience in Finance.

He joins Safaricom from DTAC Thailand, where he was the Chief Finance Officer from 2017. He held various finance roles in Vodafone India rising to the role of EVP Finance in Mumbai.

The board also on Monday unveiled Raisibe Kgomaraga Morathi as a director. She was appointed the Chief Financial Officer and Executive Director of Vodacom Group earlier on the month.

She joined Vodacom from Nedbank Group where she had been the group chief financial officer since September 2009.

In August Safaricom announced the retirement of its long-serving Chairman Nicholas Nganga. Nicholas Nganga took over from Wilson Ndolo Ayah in 2007, a position he held until 2020 before retiring.

Nganga broke the news to shareholders at the end of the company’s virtual annual general meeting, in what would turn out to be his last Safaricom event.

“As some of you shareholders may be aware, I have been a member of the board of Safaricom for the last 16 years as a representative nominated by the Government of Kenya through the National Treasury,” Nganga said.

“We have received communication from the National Treasury Cabinet Secretary nominating Michael Joseph to replace Nicholas Nganga as well as the Principal Secretary of the ministry replacing Esther Koimett.

“This is my last function as a member of the board of Safaricom and as your chairman.”

Today, Safaricom is valued at more than Sh1 trillion with 28.6 million monthly active subscribers and Sh262 billion in total revenues.