John Ngumi has resigned as chairperson of Safaricom’s board barely six months after taking the position.
In a statement released by the telecommunication giant, John was praised for helping the company walk through the electioneering period successfully, among other contributions.
“In the brief period following his appointment to the Board, John has provided a wealth of industry knowledge and vast expertise. He has steered the Company through a general election and supported the entrenchment of our purpose of transforming lives through our products and services as well as within the communities we serve,”
However, business pundits are pointing fingers at the possible restructuring in the East Africa’s most profitable company as the cause of Ngumi’s exit. The alleged shakeup is aimed at aligning the to to the new administration of President William Ruto.
Particularly, the president is highly banking on the telco to achieve success of the Hustler Fund and the mooted distribution of subsidized seeds and fertilizer.
As a longstanding ally of former president Uhuru Kenyatta, Ngumi headed powerful parastatals such as the Industrial & Commercial Development Corporation (ICDC), hence huge influence on entities such as Kenya Ports Authority, Kenya Pipeline Company Limited and Kenya Railways Corporation.
During the reorganisation that cast Ngumi out of favour, Adil Arshed Khawaja, an advocate of the high court of Kenya was appointed as the director of the board.
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