Report by Mary Muthoni
Michael Joseph has resigned as a director in the board of Safaricom with effect from 1st August 2023.
His resignation was announced Tuesday evening by Safaricom board which indicated that he had stepped down to focus in his other ventures, such as continuing his role as chairman of Kenya Airways.
Michael Joseph who was Safaricom’s founding CEO held various capacities within Safaricom since 2000 such as General Manager, Chief Executive Officer (twice), Director as well as chairman of the board. He was also a member and Chairman of various committees of the board.
He steered the company from a subscriber base of less than 18,000 in 2000 to over 17 million subscribers by his retirement in November 2010 making it the most successful company in East Africa.
“Michael leaves the Board to focus on other ventures in his life including continuing his role as Chairman of Kenya Airways and being a director in various organizations. He will continue to pursue his passions in matters of conservation and community service,” the board said in a statement.
“Michael’s deep foundation and connection with the community is what brought about the phenomenal growth, development of innovative products and services, making Safaricom a part of the society. During his tenure, Michael oversaw highly successful launch and phenomenal growth of M-PESA and its related services,” said the board.
He was also behind the launch of 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.
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.