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Friday, Jan 17th

Safaricom snaps up Vodacom Tanzania exec

Safaricom snaps up Vodacom Tanzania exec.

Safaricom has today announced Sateesh Kamath as its Chief Financial Officer (CFO) and Executive Board Member starting on 1 August 2016.

Kamath joins the Kenyan telecommunications services provider from Vodacom Tanzania Ltd, where he fulfilled the role as CFO and Executive Director.

Safaricom says the incoming CFO has a strong background in strategic performance management and building robust operations across the telecoms, FMCG and manufacturing sectors.

"Prior to his former position at Vodacom, Mr. Kamath has held senior roles for the last 12 years at both a global and local level for Vodafone operations in London, Australia, New Zealand, Turkey and Fiji. He is also non-executive Director in other group companies and investments." stated Safaricom.

The CFO position at Safaricom became vacant after current CFO and Executive Director John Tombleson, who took up the position in 2011, decided to return to his home country of New Zealand to take up a new opportunity as the Integration Director of the recently announced merger between Vodafone New Zealand and Sky New Zealand.

Under Tombleson's tenure Safaricom achieved 16.3% compound Annual Revenue Growth, Net Profit CAGR growth of 31.8%, and promoted Market Capital growth of 555% from US$1.1 billion to US$7.1 billion.

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