John Ngumi appointed as new the new Safaricom PLC Director and Chairman of the Board.
Ngumi’s appointment will take effect from August 1, 2022.
The telecommunications firm has also announced that the company secretary Sitholizwe Mdlalose has resigned.
Ngumi will replace former Safaricom chief executive officer Michael Joseph who has been holding the position of board chair.
Ngumi has also served as the chairman of the Board at the ICDC. Prior to his position at the ICDC, Ngumi was the immediate former Chairman of Kenya Pipeline Corporation Board and has chaired the Board of Konza Technopolis Development Authority.
He served as an inaugural director on the Board of Communications Commission of Kenya, now Communications Authority of Kenya, a regulator that oversaw the creation of Kenya’s present telecommunications landscape.
Ngumi started his banking career at National Westminister Bank, London and has worked for various institutions including Grindlays Bank, Citibank, Barclays Bank and Standard Bank of South Africa establishing himself as East Africa’s foremost corporate and investment banker.
Businessman Chris Musau buys 680 Hotel at Sh. 1.2 billion
He also co-founded one of Africa’s locally owned investment banks, the Loita Capital Partners Group and has led innovative financial transactions in diverse sectors including telecommunications, energy, manufacturing, aviation, energy and infrastructure.
Safaricom had appointed Michael Joseph as the firm’s chairman in 2020 following the retirement of Nicholas Ng’ang’a, who had been at the helm for 13 years.