Safaricom gains $40m after appointment of Kenyan CEO
Safaricom's incoming CEO Peter Ndegwa. He will take charge of the Nairobi Securities Exchange-listed firm on April 1, next year. PHOTO | COURTESY | SAFARICOM
Kenya’s telecommunications giant, Safaricom, gained Ksh4 billion (about $40 million) market capitalisation on the first day of trading after appointment of a new chief executive, offering a glimpse into investors’ early assessment of the management change.
Safaricom on Thursday evening announced the appointment of senior Diageo executive Peter Ndegwa to replace the late Bob Collymore at the helm of East Africa’s most profitable company.
