Safaricom chairman John Ngumi has stepped down just six months after assuming control of East Africa's most profitable company, and the board has reorganized to accommodate the newgovernment.
Ngumi was seen as something of a wunderkind by Uhuru's government, chairing well-funded semi-state companies, including the Industrial and Commercial Development Corporation (ICDC). The ICDC was responsible for Kenya's transport and logistics network, which includes the Kenya Ports Authority, Kenya Pipeline Company Limited and Kenya Railways Corporation. He has also served on the board of Kenya Airways.
Safaricom released a statement, saying, “[Ngumi] has steered the company through a general election and supported the entrenchment of our purpose of transforming lives through our products and services as well as within the communities we serve.”
The telecommunications company was named the best taxpayer for the fiscal year ending March 2022 after paying 124.7 billion shillings in duties, taxes and royalties. Safaricom has not yet named a successor, simply stating that he will be elected by the board in the coming weeks.
In additional board updates, Safaricom also appointed Adil Arshed Khawaja, a Kenyan High Court attorney.
The appointment, effective December 22, was approved by the board of directors on January 5, according to the telecom company.
Khawaja, now managing partner of Denton's Hamilton, Harrison & Matthews, has more than 30 years of legal experience, ranging from dispute resolution to commercial and real estate law, according to the firm.
“He is recognised as a leading name in the Kenyan legal profession and has been globally recognised in various practice groups as one of the most sought-after lawyers in Kenya,” Safaricom said in a statement.
Mr. Adil was previously a director of the KCB Group and was elected as the first chairman of KCB Bank Kenya Limited.
This appointment makes him very likely to be the next chairman if the company chooses to go with an outsider.
The changes now taking place have ended the reign of Mr. Ngumi, who had been one of the most popular directors as a wealthy quasi-politician in Uhuru's government.
