John Ngumi Appointed Safaricom Board Chairman

John Ngumi, a pioneer in Kenya’s banking industry, will take over as chairman of the board of Safaricom on August 1 in place of outgoing chairman Michael Joseph.

The career banker who currently serves as the board chairman of the Industrial and Commercial Development Corporation now has another position to his burgeoning resume (ICDC).

Ngumi served as the first Board Chair of the Kenya Pipeline Company Limited and the Konza Technopolis Development Authority (KOTDA), respectively (KPC)

John Ngumi was recently appointed as a non-executive director to the board of Kenya Airways (KQ), where he currently serves.

Michael Joseph, who was chosen to chair the board of Safaricom in August 2020, is replaced by him.

an exciting Additionally, Joseph held the position of CEO of Safaricom twice and was the organization’s initial CEO from July 2000 to November 2010.

After the passing of former CEO Bob Collymore in July 2019, Michael Joseph would take over as CEO of the telco and lead it until March 31, 2020, when he would give the reins over to current CEO Peter Ndegwa.

Michael Joseph appears to be leaving the business he helped build at the turn of the century with the end of his tenure as board chair.

Kenya Airways Board Chair Michael Joseph just won a new three-term contract that will keep him in that position until 2025

The region credits the arriving John Ngumi with a number of significant financial operations, including spearheading the 1989 issuance of Kenya’s first bond to be listed on the New York Stock Exchange (NSE).

Ngumi served as the principal arranger for a Ksh. 4 billion Safaricom bond in 2001, which helped the start-up telco finance the expansion of its infrastructure.

Prior to this, John Ngumi worked for a number of top international banks, including Barclays, Citibank, and Stanbic Bank (previously Grindlays Bank).