Michael Joseph has resigned as a Director on the Board of Safaricom, the telco giant announced on Tuesday.
In a statement, Safaricom said Joseph was resigning to focus on “other ventures” including his current role as Chairman of Kenya Airways and being a director in various organizations.
Michael Joseph was the founding CEO of Safaricom and has also served in various capacities at the organization since 2000 including being the General Manager, Chief Executive Officer, Director as well as Chairman of the Board. He also served as a member and Chairman of various committees of the Board.
During his time as Safaricom CEO, Joseph was instrumental in the company’s growth trajectory, steering it from a subscriber base of less than 18,000 in 2000 to over 17 million subscribers by the time of his retirement in November 2010.
He is also been credited for being behind the launch of both the Safaricom and M-PESA Foundations which have supported many projects throughout Kenya in education, health, culture and conservation to name a few. He together with the late Bob Collymore launched the highly successful M-PESA Foundation Academy.
“It is the deep foundation and connection with the communities that Michael developed that led to the phenomenal growth, development of innovative products and services, ensuring Safaricom became deeply embedded in every it of our society,” part of the announcement reads. “During his tenure, Michael oversaw the highly successful launch and phenomenal growth of MPESA and its related services.” the statement, signed by Safaricom PLC Sectretary Kathryne Maundu reads.
“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.” it further reads.
His resignation takes effect from 1″ August 2023.