John Ngumi: Corporate titan who now sits at the helm of Safaricom board

On Friday July, 29, 2022, Safaricom announced its decision to change guard at the helm of its board; a move that would see its founding CEO Michael Joseph end his two-year tenure as the company’s board chairman.

As Michael Joseph moves on as the chair of the board, Safaricom welcomed a man who has made a name in Kenya’s corporate world; Mr John Ngumi.

Mr Ngumi brings in experience and expertise from the corporate world as he is expected to steer the telecommunication company to greater heights.

“He established himself as East Africa’s foremost corporate and investment banker, working with local and international/global corporates that have an East African regional presence, state-owned enterprises, sovereigns, and financial services groups,” Safaricom said in a notice to the public.

Ngumi is the immediate former chairman of the Kenya Pipeline Corporation Board and has also chaired the board of Konza Technopolis Development Authority.

He also served as the inaugural director on the board of Communication Commission of Kenya (now known as the Communication Authority of Kenya).

In this over 35 years in the corporate world, Ngumi is credited with brokering deals worth billions of shillings both locally and internationally.

His amazing journey to becoming East Africa’s foremost corporate and investment banker began at National Westminster Bank, London before moving to other institutions such as Grindlays Bank, Citibank, Barclays Bank and Standard Bank of South Africa.

Born in 1955, the seasoned investor describes himself as a gregarious; enormously self-confident person who possesses a copious amount of drive and determination.

Speaking to The Standard in a previous interview, Ngumi attributed his success to the education he acquired at St. Peter’s College, Oxford University, the United Kingdom where he acquired a degree in Philosophy, Politics and Economics.

Ngumi, who majored in politics and economics graduated with first-class honours.

 “It teaches you to be very quick on the uptake, quick on understanding briefs and also gives a very good ability to weave words together so that you can sell virtually anything,” the new Safaricom board chair told the Standard.

 “It triggered a lot of interests that I’ve maintained. I imbibe some of the kool-aid that says you are meant to rule. It also inspired a lot of curiosity. I didn’t do it for any career reasons,” he added.