Kenya’s largest telecommunications company Safaricom today welcomes its new chief executive officer.
Peter Ndegwa takes over the reign of power from acting CEO Michael Joseph.
Ndegwa was appointed to the position in October 2019, following the passing of Bob Collymore in July, the same year.
— Safaricom PLC (@SafaricomPLC) April 1, 2020
Ndegwa takes over at a time when the world is grappling with the coronavirus pandemic which has paralysed businesses.
Companies are shutting down operations. Safaricom has on its part revised times during which their shop remain open which translates into loss of business.
At the end of last week, the telco shareholders lost Sh244.5 billion in paper wealth in three months, Standard reports.
He joins Safaricom from Diageo PLC where he was the Managing Director of Diageo Continental Europe.
At Diageo, he oversaw the operations of Diageo PLC in 50 countries in Western and Eastern Europe, Russia, Middle East and North Africa region.
He had previously served for seven years as CEO in Guinness Nigeria PLC and Guinness Ghana Breweries PLC.
Prior to that, Peter served for eight years across a range of senior Executive Director roles at EABL (a Diageo subsidiary) based in Nairobi.
He also served as the Group Chief Finance Officer (CFO), Group Strategy Director, Sales Director, and as an Executive Director on the EABL Board.
Ndegwa started his career at PwC, the global consulting firm, where he worked for 11 years.
He holds an MBA from the London Business School and a Bachelor’s degree in Economics from the University of Nairobi.
He is also a Certified Public Accountant and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
In data released on Tuesday by the Communications Authority, its M-Pesa platform recorded the highest market share of 98.8 per cent in the second quarter of the 2019-20 financial year.