Safaricom has appointed two Vodacom executives to its board following recent ownership changes. The appointments come after Vodacom increased its effective stake in the Kenyan telecom giant to about 55 percent. The move strengthens Vodacom’s representation at Safaricom as the company expands its regional and digital services business.
Safaricom PLC has named Mariam Cassim and Matimba Mbungela as non-executive directors. Their appointments follow a series of transactions that increased Vodacom’s control of the company.
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Cassim currently leads Vodacom Group’s fintech business. Mbungela serves as the group’s Chief Human Resources Officer. Their addition brings expertise in financial services and talent management as Safaricom pursues growth across Africa.
The board changes come after the Kenyan government sold a 15 percent stake in Safaricom to Vodafone Kenya for about KSh204.3 billion. Vodacom also acquired Vodafone Group’s remaining interest in Vodafone Kenya. The transactions reduced the National Treasury’s stake in Safaricom to 20 percent. Public investors now hold 25 percent of the company.
Despite the board changes, Safaricom’s executive leadership remains unchanged. Chief Executive Officer Peter Ndegwa continues to lead the company’s operations.
The appointments also follow governance changes approved by shareholders during Safaricom’s annual general meeting in July. Shareholders passed 14 special resolutions to align the company’s governance structure with the new ownership arrangement.
The revised framework gives Vodafone Kenya greater rights to nominate directors. As the holder of more than half of the company’s shares, it also gains the right to nominate the chief executive.
Cassim joins the board at a time when Safaricom is deepening its investment beyond Kenya. The company has invested nearly KSh160 billion in Ethiopia and continues to expand M-PESA services across merchant payments, developer platforms and financial products.
Mbungela brings more than a decade of experience in managing talent strategy across African markets. Her expertise is expected to support Safaricom’s regional expansion and workforce development plans.
The board changes also come amid adjustments within Safaricom’s senior leadership. Former Chief Financial Services Officer Esther Waititu recently exited the company, with Boniface Mungania taking up the role on an interim basis.
The appointments underscore the growing influence of Vodacom within Safaricom. They also signal the company’s focus on strengthening leadership as it pursues expansion in digital services and regional markets.
