Peter Ndegwa has taken over as the CEO of Safaricom effective today, he will be taking over from Michael Joseph the founding CEO, who has been holding the position in an acting capacity.
Mr. Ndegwa has been previously working with Diageo PLC where he is the Managing Director of Diageo Continental Europe. 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).
Mr. Ndegwa takes over at a time when there is a crisis world over due to the Corona pandemic. Service quality at the telco has also deteriorated for the past few months and many subscribers me included are waiting to see what actions he will take to correct this issue. At the same time, the company has been shedding market share in voice to its top rival, Airtel Kenya, which is in merger talks with Telkom Kenya.
According to Mr.Ndegwa, his strategy will hinge on M-Pesa and deepening the data business. He continued to say, “Safaricom is more than just a telecommunications company. Voice is saturated but that what is happening everywhere in the world. Best companies renew themselves.” He also added that there are still great opportunities in data, M-Pesa and geographical expansion at a time when Safaricom has announced plans to enter Ethiopia, which is keen to liberalise its telecommunication services.
On data, Mr Ndegwa will be seeking to deepen Safaricom’s interest in healthcare, agriculture and education by providing Internet-based solutions. On this, he had this to say, “Learning from home has created opportunities in education through e-learning. We are also looking at how innovation can help us deliver services in healthcare and agriculture.”