• About
  • Advertise
  • Privacy & Policy
  • Contact
Kenyan Business Feed
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home News

Bob Collymore to stay an extra year at Safaricom as CEO : The Standard

Kenyan Business Feed by Kenyan Business Feed
Share on FacebookShare on Twitter

[ad_1]

Bob Collymore
Leaving next year, Safaricom CEO Bob Collymore. [Photo, Standard]

The chief executive of Kenya’s biggest telecoms operator Bob Collymore said on Thursday he will stay on for an extra year in his role after the firm’s board extended his contract by 12 months.

“I’m here until the year 2020,” the Safaricom boss told reporters on the sidelines of a meeting.
Last month, Reuters reported that the 61-year-old had planned not to renew his contract which was supposed to end in August because of health reasons.
“He wants to concentrate on his health so he did not wish to renew his contract,” one of the sources speaking on condition of anonymity told Reuters.

SEE ALSO :Safaricom race to dominate home Internet market

In late 2017, he took a nine-month medical leave to undergo cancer treatment in London.
The CEO told Reuters that he was still consulting with the company’s board about his plans to step down and would make announcements at a later date which he did today.
“I have every confidence that whether I’m here or not, that this company will run. This is an institution. It is not a company which is just run by a single person,” he said.
Reuters said the father of two (non-biological) would have announced his resignation earlier but government’s insistence he should be succeeded by a Kenyan delayed announcing his replacement.
Achievements

SEE ALSO :What I plan with my new found million-Kocho Kocho winner

The Guyanese-born British corporate titan is credited with building Safaricom into East Africa’s most profitable company, thanks to the popular mobile money transfer service M-Pesa and a growing customer base.
He oversaw the launch of new products that contributed significantly to the firm’s revenues such as newly launched overdraft facility Fuliza.
Fuliza has proved to be a gold mine as users borrowed more than Sh45 billion in just four months since its launch in January this year according to telco’s statistics.
During his tenure, Safaricom’s share price has increased by more than 400 percent to Sh26.00.
He has also led the charge against regulatory efforts to clip the company’s wings due to its dominant size.

SEE ALSO :Collymore to leave office as row erupts over successor

Safaricom, which is 35 percent owned by South Africa’s Vodacom, controls about 62 percent of Kenya’s mobile market, with 30 million subscribers. Britain’s Vodafone has a 5 percent stake and the Kenyan government 35 percent.

Register to advertise your products & services on our classifieds website Digger.co.ke and enjoy one month subscription free of charge and 3 free ads on the Standard newspaper.

Related Topics

Bob CollymoreSafaricom



[ad_2]

Source link


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
Kenyan Business Feed

Kenyan Business Feed

Recommended.

Four organisations in Africa among those shortlisted for global Ashden Award

May 20, 2019

Kidnappers of Cuban doctors demand KSh 150 million ransom to release medics

May 16, 2019

Subscribe.

Trending.

Safaricom’s SIG Forum empowers SMEs with branding insights from 3Verse Kenya, showcasing award-winning campaigns and inclusive business support.

Safaricom’s SIG Forum Empowers SMEs as 3Verse Kenya Shares Award-Winning Branding Strategies

June 23, 2025
Co-op Bank Launches New Financial Solutions to Empower MSMEs in Kenya

Co-op Bank Launches New Financial Solutions to Empower MSMEs in Kenya

June 23, 2025
Tourism CS Rebecca Miano discusses the economic impact and global appeal of the 2025 Safari Rally

Tourism CS Rebecca Miano Reveals Economic Impact of the 2025 Safari Rally

April 1, 2025
PLP and Safaricom Graduate 300 Youth in Push for Digital Talent Development Across Kenya

PLP and Safaricom Graduate 300 Youth to Boost Kenya’s Digital Talent Pipeline

June 23, 2025
Co-operative Bank Subsidiaries

Co-operative Bank Subsidiaries Shine with Strong 2024 Profits

April 2, 2025
Kenyan Business Feed

We focus on news, analysis, and reports about Kenyan business, covering sectors like agriculture, finance, tourism, and technology.

Categories

  • African
  • Agribusiness
  • Courts
  • Education
  • Health
  • Hospitality
  • Manufacturing
  • NetWorths
  • News
  • Reports & Analysis
  • World Business

Popular News

  • First look at the prison where El Chapo may live for the rest of his life

    First look at the prison where El Chapo may live for the rest of his life

    2157 shares
    Share 1040 Tweet 466
  • Sameer Africa CEO Sacked

    1803 shares
    Share 749 Tweet 439

Recent News

Co-op Bank Partners with WorldRemit to Power Seamless Diaspora Transfers in Kenya

Co-op Bank Partners with WorldRemit to Power Seamless Diaspora Transfers in Kenya

June 23, 2025
Co-op Bank Launches New Financial Solutions to Empower MSMEs in Kenya

Co-op Bank Launches New Financial Solutions to Empower MSMEs in Kenya

June 23, 2025
  • Home
  • African
  • News
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF

No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF