November 21st 2017

Business / News

Safaricom appoints new directors

Till Streichert, the current Chief Financial Officer (CFO) and Executive Director of Vodacom Group, has been appointed as Alternate Director to Mr Moosub. Mr Streichert is also a Member of the Vodacom Group Executive Committee and is a Non-executive Director of Vodacom SA.

By Trizza Kimanitkimani@kenyafreepress.comSunday, 03 Sep 2017 18:18 EAT

As part of its strategy to enhance shareholder value, Safaricom has appointed Mohamed Shameel Aziz Joosub and Linda Watiri Muriuki to its board as Non-Executive Directors, effective immediately. The two appointments were announced following a Safaricom Board of Directors meeting held on Thursday 31st August.

"We continue to place a keen focus on building an inclusive board that can both meet the evolving needs of our business, and which takes into account the recent changes in our shareholding structure. Both directors bring with them a wealth of expertise in creating world-class mobile companies in both Europe and Africa," said Nicholas Ng'ang'a, Chairman, Safaricom.

Vodafone Group recently transferred 35 percent of its indirect interest in Safaricom to its sub-Saharan African subsidiary Vodacom Group Limited. The new shareholding reflects the interests of the new shareholding structure.

Mr Joosub is the current Chief Executive Officer and Executive Director of Vodacom Group as well as the Chairman of the Vodacom Group Executive Committee & Vodacom (Pty) Limited.

Prior to joining Vodacom Group in 2012, Mr Joosub was the former CEO of Vodafone Spain. He held several high-level positions at Vodacom, and served on the Vodacom Group Board from 2000 to 2011. He was reappointed to the board after his return from Spain.

On her part, Ms Muriuki currently serves as the Senior Partner at LJA Associates, where she is a practicing Advocate of the High Court of Kenya with over 27 years of experience, ranked by Chambers and Partners in 2015 and 2016.

She has previously served as a Non-Executive Director of Old Mutual Life Assurance Company Limited from 2004 to 2010 and the Capital Markets Authority from 2015 to 2017. She currently serves as a Non-Executive Director of East Africa Reinsurance Company Limited.

Safaricom also announced the resignation of Gianluca Ventura as a substantive Director of the Company. Mr Ventura will now act as an Alternate Director to Vivek Badrinath.

Till Streichert, the current Chief Financial Officer (CFO) and Executive Director of Vodacom Group, has been appointed as Alternate Director to Mr Moosub. Mr Streichert is also a Member of the Vodacom Group Executive Committee and is a Non-executive Director of Vodacom SA.

Safaricom will hold its Annual General Meeting on Friday 15 September at the Bomas of Kenya.

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