Former Safaricom PLC CEO Michael Joseph resigns from its board

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Former Safaricom PLC CEO and Board Chair Michael Joseph has resigned as a Director on the Board of Safaricom to focus on his other ventures, the telco announced in a statement.

The resignation by Joseph on August 1 from the Safaricom board of directors, ends his long association with the firm after 23 years. Since 2000, Joseph has served as General Manager, Chief Executive Officer, Director as well as Chairman of the Board and also served as a member and Chairman of various committees of the Board.

Joseph served as CEO from 2000 to 2010, and during his tenure as Safaricom CEO, he grew Safaricom’s subscriber base of less than 18,000 in 2000 to over 18 million subscribers by the time of his retirement in November 2010. He was also instrumental in the launch the Safaricom and M-PESA Foundations and later worked with late Bob Collymore to launch the M-PESA Foundation Academy. The foundations have supported sports, education, health, culture and conservation projects across the country.

Joseph’s biggest contribution to Safaricom was the highly successful launch and phenomenal growth of MPESA and its related services. He led its phenomenal growth, the development of innovative products and services and made Safaricom and M-PESA household names. He has been integral to the important advances that Safaricom has made over the years, including the issuance of Safaricom’s first Bond, the Initial Public Offer in 2007 and the branching out into Ethiopia.

“The Board announces the resignation of Mr. Michael Joseph as a Director in the Board of Safaricom PLC, with effect from August 1, 2023,” the company said in a statement. “Michael leaves the Board to focus on other ventures in his life including continuing his role as Chairman of Kenya Airways and being a director in various organizations. He will continue to pursue his passions in matters of conservation and community service,” added the Board.