The Safaricom Plc Board has announced the appointment of investment banker John Ngumi as a director and Chairman of the Board with effect from 1st August 2022. The telco’s top management stated that John’s appointment is subject to regulatory approval.
Safaricom’s incoming Board Director, John Ngumi is one of Kenya’s most celebrated bankers. Ngumi takes on the role of Chairman Board of Directors at the giant telecom company with effective from 1st August 2022, replacing Michael Joseph, who has chaired the telco’s board since 2020.
Over the course of his 35-year banking career, John has established himself as East Africa’s foremost corporate and investment banker, working with both local and global corporates that have an East African regional presence.
“We’re delighted to announce John Ngumi as Director and Chairman of our Board of Directors effective August 1, 2022. We are excited to have John on board, as we carry on our commitment to transform lives and go beyond to meet our customers’ needs.” Safaricom announced on their Linkedin page on Friday.
Ngumi has also worked closely with state-owned enterprises, sovereigns, and financial services, groups.
Michael Joseph, Safaricom’s first CEO, has been serving in this position Joseph recently left the telecom’s Board and will subsequently be replaced by John Ngumi.
John is a seasoned high-profile banking executive having drawn his experience in both private companies and state-owned enterprises.
He is best known as the initial Board Chairman at Konza Technopolis Development Authority and as an exceptionally active and effective Board Chairman at Kenya Pipeline Company Limited (KPCL).
I&M Select Banking Sapphire Club wins “Best Innovation of the Year” at UMEAS 2025Currently, Ngumi serves as the Board Chairman at the Industrial & Commercial Development Corporation (ICDC), which is leading the effort to implement the Kenya Transport & Logistics Network, encompassing Kenya Ports Authority, Kenya Pipeline Company Limited, and Kenya Railways Corporation.
John Ngumi also serves on the board of Kenya Airways PLC.
“Mr Ngumi is one of Kenya’s most celebrated bankers. During a 35-year banking career, he established himself as East Africa’s foremost corporate and investment banker, working with local and international corporates that have an East African regional presence, state-owned enterprises, sovereigns and financial services groups,” Kathryne Maundu, the Board secretary, acknowledged the corporate executive in a statement dated July 28, 2022.
According to Kenyanwallstreet, While addressing shareholders at company’s AGM, outgoing CEO Michael Joseph said John Ngumi will be replacing him as one of the Director’s representing the Government of Kenya on the Board of Safaricom.
“John was appointed as a Director of Safaricom and elected Chairman of the Board at a Safaricom Board meeting held yesterday, July 28th, 2022.” said Mr Michael Joseph who will remain as a Director on the Board of Safaricom.
Ngumi started his banking career at National Westminister Bank, London and has worked for various institutions including Grindlays Bank, Citibank, Barclays Bank and Standard Bank of South Africa establishing himself as East Africa’s foremost corporate and investment banker.
John describes himself as a gregarious; enormously self-confident person possessed of copious amounts of drive, determination, energy and will to win.
He is a highly educated banker who holds a degree in Philosophy, Politics and Economics from St. Peter’s College, Oxford University in the United Kingdom.
