- Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023
- The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi.
- He currently serves as the Managing Partner at Dentons Hamilton Harrison & Mathews, the oldest law firm in Kenya, established in 1902 with a reputation of being an innovative, experienced, responsive, and highly skilled firm.
Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023
The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi.
Khawaja has over 30 years work experience in the legal profession ranging from dispute resolution, to commercial and real estate. He is recognized as a leading name in the Kenyan legal profession and has been globally recognized in various practice groups as one of the most sought-after lawyers in Kenya.
He currently serves as the Managing Partner at Dentons Hamilton Harrison & Mathews, the oldest law firm in Kenya, established in 1902 with a reputation of being an innovative, experienced, responsive, and highly skilled firm.
He also holds board positions in various companies across various markets that include Rhino Ark Charitable Trust, Al Futtaim Automotive-CMC Motors Group Limited and Atua Enkop Africa Limited.
He previously served as a Director of KCB Bank Group from 2012, and was elected the first Chairman of KCB Bank Kenya Limited from 2016 until 2020, when his tenure ended.
He has also served on the board as the Director of Kenya Power & Lighting Company as well as a Trustee of the Kenya Wildlife Service.
John Ngumi has resigned as the Chairman of the board effective 22nd December 2022, six months after his appointment to focus on developing green energy generation across Africa with an emphasis on green hydrogen.
The move was seen as political as East Africa’s most profitable company tries to align with the new administration as Ngumi was said to be a key ally of the former Kenyan President Uhuru Kenyatta.
In November 2022, Safaricom released their 2023 half year results (April – September 2022) reporting a 18.4 percent drop in profits attributable to heavy costs incurred during its entry into the Ethiopian market, a review of the Mobile Termination Rate (MTR) in 2022 and the introduction of Excise Tax on SIM Cards.
The profits dropped from Sh37 billion in the previous financial year to Sh30.2 billion in the period under review.
MPESA was the best earner for the company during the period as it contributed 39.3 percent of the company’s service revenue at Sh56.86 billion, an 8.7 percent increase compared to the previous year performance.
During the period under review, mobile data revenues went up by 11.3 percent to Sh26.3 billion while voice revenues dropped by 3.8 percent to Sh39.88 billion.
Safaricom Ethiopia makes KSh 98.3 million in total revenue in first 30 days
Last Year, Safaricom entered the Ethiopian market after it got a licence through a consortium made of British development finance agency CDC Group, Vodafone and Vodacom, and Japan’s Sumitomo Corporation
The move was followed by a massive investment in building infrastructure and networks. The consortium plans to invest Sh36 billion annually.
In one month, Safaricom Ethiopia hit one million subscribers and generated Sh98.3 million in revenues.
Last month, Safaricom Ethiopia switched on its network and services in Hawassa, Assela, Jigjiga, Sodo and Dilla cities, growing its network footprint across Ethiopia to 21 cities.