Safaricom’s CEO takes the reins, share price up

New Safaricom CEO Peter Ndegwa. He is the first Kenyan to lead the giant company. PHOTO | NMG

Peter Ndegwa has started his tenure as Safaricom chief executive officer with a vote of confidence from investors after the company’s stock gained 1.7 per cent on his first day in office.

A day after the telco closed its financial year that ends on March 31, Mr Ndegwa heads a company that is the heartbeat of trading at the Nairobi Securities Exchange (NSE) and which must keep re-inventing to maintain its position as East Africa’s most profitable company.