Safaricom finance boss exits to join mother company Vodafone

Safaricom finance boss exits to join mother company Vodafone

Safaricom Chief Finance Officer Sateesh Kamath is set to exit the giant telco at the end of the month ending a three and half year stint.

This follows his tapping by the operator’s mother company where he is set to take up ranks Vodafone’s Business CFO effective July 1.

In a statement issued Wednesday, Safaricom says Sateesh will be remembered for guiding the company through years of profitability by building on the firm’s business performance.

“He is credited with, among many other achievements, helping to build Safaricom shareholders’ value by 50 percent to Ksh. 1.2trillion and improving business performance through Fit for Future Initiatives adding 6 percentage points on EBIT margin,” noted Safaricom Chief Executive Officer Peter Ndegwa.

“He played a key role in completion of acquisition of M-Pesa Joint Venture from Vodafone and purchase of critical spectrum while ensuring efficient use of company’s funds.”

Further, Sateesh will be remembered for steering the firm during the absence for former CEO Bob Collymore and transitions that followed his death in 2019 through the assumption of broader responsibilities.

He joined Safaricom on August 1, 2016 from Vodacom Tanzania Ltd, where he was the Chief Financial Officer and Executive Director on the board of Vodacom Tanzania.

Sateesh previously held senior roles over the last 12 years at both a global and local level for Vodafone operations in London, Australia, New Zealand, Turkey and Fiji and as has over 19 years’ experience in both mature and emerging markets across Asia, Europe and Africa.

He holds a Bachelor of commerce from Mahatma Gandhi University (First Class) and he is also a Qualified Accountant from the Institute of Cost and Works Accountants of India.

Vodafone is Safaricom’s mother company, with the telco being born out of a venture between the UK based operator and the Government of Kenya in 2000.

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