Peter Ndegwa Appointed Safaricom Ethiopia Advisory Board Chairman
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Safaricom has announced the appointment of its Group CEO, Peter Ndegwa, as the new Chairman of the Global Partnership for Ethiopia (GPE) Board and the Safaricom Ethiopia Advisory Board. He succeeds Michael Joseph, who has held the position since August 2022.
Peter Ndegwa has led Safaricom PLC since April 1, 2020. Before joining Safaricom, he served as Managing Director of Diageo Continental Europe, Guinness Nigeria Breweries, and Ghana Breweries.
As Chairman of the Safaricom Ethiopia Advisory Board, Ndegwa is expected to guide the company through the next phase of growth in Ethiopia’s liberalizing telecom market. He will bring strategic insight to navigating competitive, regulatory, and infrastructure challenges as Safaricom continues to scale its operations in the country.
Read: Why the Government is Planning to Sell a Mega Stake in Safaricom
Michael Joseph, Safaricom’s founding CEO and outgoing chairman of both the GPE and Ethiopia advisory boards, is credited with shaping Safaricom’s early trajectory. He oversaw its growth from fewer than 20,000 subscribers in 2000 to over 16.7 million by 2010, supported by the launch of M-Pesa.
Joseph led the consortium, comprising Safaricom, Vodacom, Vodafone, and British International Investment, that secured Ethiopia’s first private telecom license in May 2021. His leadership helped position Safaricom Ethiopia as a player in the country’s digital inclusion agenda.
He will continue to serve on the boards of Vodacom Group South Africa, Vodacom Tanzania, Vodacom Mozambique, and Kenya Airways, and remains an advisor to Vodafone.
Read: Safaricom Bets Big on M-PESA 2.0 with Sh 40 Billion Upgrade
Safaricom Ethiopia has also appointed Ermias Eshetu as the first Ethiopian member of its advisory board. With over 25 years of leadership experience in Ethiopia’s FMCG, oil and gas, and financial sectors, Eshetu has held senior roles at Meta Abo Brewery (Diageo), Shell, and the Commercial Bank of Ethiopia.
His appointment leans towards localizing leadership and aligning operations with Ethiopia’s market dynamics.
Ethiopia’s telecom sector has been undergoing liberalization since 2018, creating space for private operators. With a population exceeding 120 million, it remains Africa’s second-largest telecom market.
In May 2021, Safaricom-led Global Partnership for Ethiopia secured a private telecom license with an $850 million bid, outperforming MTN Group.
Safaricom launched its mobile network in Ethiopia in October 2022, becoming the country’s first private telecom operator. By March 31, 2024, it had over 4.4 million active customers, with network coverage reaching 40% of the population.
After securing a mobile money license in May 2023, it introduced M-Pesa in August, amassing 1.2 million customers.
The company has committed to investing up to $8.5 billion over ten years in Ethiopia’s telecom infrastructure. This includes the construction of 7,000 mobile towers, a Huawei- and Nokia-built data center in Addis Ababa, and leasing access to the national fiber-optic network.
Safaricom targets the creation of 1.5 million direct and indirect jobs through its Ethiopia operations.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.
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