Peter Ndegwa Appointed Safaricom's Board Chair in Ethiopia

• Safaricom is one of the leading telecommunication companies, providing services like M-Pesa to customers across its markets
• In 2021, it made forays into the Ethiopian market, offering a share of the crucial services it offers
• The firm has now appointed its group chief executive officer, Peter Ndegwa, as the chairman of the telco in Ethiopia

Bonface Kanyamwaya, a journalist at TUKO.co.ke, has more than 10 years of financial, economic, business, markets, and aviation expertise, providing insights into Kenya and global trends.

Safaricom PLC-linked Global Partnership for Ethiopia (GPE) has appointed Peter Ndegwa as the chairman of the board in Ethiopia.

Ndegwa, who is currently the Group CEO of Safaricom — a position that allows him to oversee the day-to-day operations of the telco — will replace Michael Joseph, who has been in the role since August 2022.

Joseph was the founding chairman of Safaricom and, at one point, was forced to act as the telco's CEO following the death of long-serving CEO Bob Collymore.

"This afternoon, the GPE and Safaricom Ethiopia Advisory Board meeting brought with it an important moment of leadership transition and new beginnings.

"We bid farewell to Michael Joseph as Chairman of the Global Partnership for Ethiopia (GPE) Board and the Safaricom Ethiopia Advisory Board — a visionary leader whose impact has been foundational to our journey," said a statement by Safaricom Telecommunication Ethiopia, a copy of which was seen by TUKO.co.ke.

Michael Joseph's solid role at Safaricom

Joseph, an astute corporate honcho who has served on several boards in Kenya, including Kenya Airways, is credited with securing Ethiopia’s first private telecom licence, launching Safaricom Ethiopia, and laying the groundwork for digital inclusion.

Ndegwa, who is stepping into the role of GPE board chairman, has been a driving force behind Safaricom’s regional growth and brings strategic clarity, deep market understanding, and strong leadership to guide the board through its next chapter.

He took over as Safaricom's CEO on Thursday, 1 April 2022, replacing Joseph, who made a comeback in an acting capacity at the helm of East Africa's largest telco in July 2021 following the death of Collymore. Ndegwa joined Safaricom from Diageo PLC, where he was the managing director of Diageo Continental Europe.

Collymore passed away in June 2022 after battling cancer. The late Collymore took over from Joseph as Safaricom CEO in November 2010.

"We are confident that Peter will carry on our vision of transforming lives while keeping us focused on meeting our customers’ needs and holding us to our new commitment of being simple, transparent, and honest," said a statement by the telco then.

Safaricom registers KSh 45.8 billion net profit

In related news, Safaricom PLC registered significant growth in net profit for the financial year ending March 30, 2025.

The leading telecommunications firm reported a 7.3% growth in profit after tax to KSh 45.8 billion, up from KSh 42.6 billion reported in the financial year 2023/24.

Ndegwa attributed the growth to strong business digitisation and innovation.

Proofreading by Mercy Nyambura, copy editor at TUKO.co.ke.

Source: TUKO.co.ke