Safaricom CFO Sateesh Kamath will be leaving the company. His new venture is a similar role for Vodafone Business that will start in July 1, 2020.
This makes a second change in Kenya’s largest corporation after the company appointed the first Kenya CEO Peter Ndegwa in April this year.
Kamath will be reporting to Vinod Kumar, the CEO of Vodafone Business.
The CFO will also become a member of the Vodafone Group Finance Leadership Team.
Safaricom has not made any announcement about his replacement. The operator says this will be done in due course.
Sateesh joined Safaricom as CO and Executive Director on the Board back in August 2016.
Previously, he was stationed at Vodacom Tanzania where he held the same role.
“He is credited with, among many other achievements, helping to build Safaricom shareholders’ value by 50% to KES1.2 trillion and improving business performance through Fit for Future Initiatives adding 6 percentage points on EBIT margin,” reads a statement from Safaricom.
He also part of the team that completed the acquisition of M-PESA Joint Venture from Vodafone, as well as the purchase of critical spectrum while ensuring efficient use of the company’s resources.
He also served as interim CEO when former and late CEO Bob Collymore was away on medical leave.
“In his four-year tenure, Sateesh built a reputation as an outstanding finance expert in the region, a leader and a mentor, qualities that we at Safaricom have benefitted greatly from and we will deeply miss. He will leave behind a very strong team,” adds Safaricom.