When Nicholas Nganga ( pictured ) was named Safaricom’s board chairman in January 2007 as Wilson Ndolo Ayah’s successor, the company was at its infancy. The number of mobile subscribers on the network stood at 6.08 million at the time with total revenues at Sh47.4 billion and after-tax profit at Sh12 billion. It was however evident from the beginning that the company was on the cusp of unprecedented financial growth with the liberalisation of the local and regional telecommunications markets. “Safaricom aims to remain the leading mobile network operator in Kenya,” Nganga told shareholders in his statement following his appointment. “To achieve this we have placed strong emphasis on quality of service to our customers. Building on our strong brand, we will lead in product innovation and utilise emerging technology to serve them.” Today, Safaricom is valued at more than Sh1 trillion with 28.6 million monthly active subscribers and Sh262 billion in total revenues. On Thursday, Nganga retired from Safaricom after an illustrious 13 years that have seen the company emerge as one of the leading telecommunication service providers in eastern Africa. His exit, just like his tenure, was marked by the characteristically quiet demeanour that has identified Nganga’s time at Safaricom. He broke the news to shareholders at the end of the company’s virtual annual general meeting, in what would turn out to be his last Safaricom event. “As some of you shareholders may be aware, I have been a member of the board of Safaricom for the last 16 years as a representative nominated by the Government of Kenya through the National Treasury,” Nganga said. “We have received communication from the National Treasury Cabinet Secretary nominating Michael Joseph to replace Nicholas Nganga as well as the Principal Secretary of the ministry replacing Esther Koimett. “This is my last function as a member of the board of Safaricom and as your chairman.” Nganga, 76, holds a Bachelors begree from Makerere University and has served as the Permanent Secretary to the ministries of Finance, Foreign Affairs and Health. He has also served as the chairman of the Tea Board of Kenya, G4S Security, Car and General and is a member of the board of Kakuzi Ltd. His tenure at Safaricom however has proven to be the most eventful one yet, following the company’s numerous run-ins with regulators and Members of Parliament. This came to the fore in 2015 following […]
Nganga leaves Safaricom board as quietly as he served
