1 July 2019

Kenya: Safaricom Allays Fears of Instability Following Collymore's Death

Safaricom has assured stakeholders of continuity after Monday's devastating news of the passing on of its Chief Executive Officer, Bob Collymore.

Collymore, 61, died at his Nairobi home in the company of close family members after a long battle with Acute Myeloid Leukemia, a cancer for which he has been seeking treatment since 2017.

The chairperson largest telco firm in East and Central Africa, Nicholas Nganga, held a media briefing on Monday during which he said he will convene the board of management to discuss the appointment of a new chief executive.

Nganga said the company will continue with the plans and vision that Collymore had set for the company.

"The Safaricom family will continue building on Bob's legacy and we will honor him by completing the work he began which he was so passionately espoused," he assured.

"I would like to assure you all that the board will give all the support needed by the management to ensure there is continuity," he added.

He further assured that the board will get a replacement by Tuesday as they had already started looking for one when Collymore's health worsened in the last few weeks.

Describing his death as a major loss for the company, Nganga however, assured of a smooth transition, saying the company's operations will not be interrupted.

"The board is clear on where it wants to go in the long term," he declared.

Since 2010, Safaricom has continued to register improved gains where it recently reported a 14.7 percent increase in net profits standing at Sh63.4 billion for its year ending March 2019.

Results released on May 3 showed the firm had recorded a growth in voice service revenue by 0.3 percent to Sh95.9 billion.

Revenue from the mobile payment service M-Pesa went up by 19.2 percent standing Sh74.9 billion.

"We are pleased with the strong results we have delivered for the year, building on our long track record of delivering relevant products and putting the customer first. We foresee continued growth in the future," Collymore said during an investor meeting in March.

The telco also recorded a service revenue growth of 7 percent to Sh240 billion.

Currently, funeral arrangements are underway, and the late Bob Collymore will be buried in a private interment on Tuesday.

In October 2017, Collymore traveled to the United Kingdom to receive treatment and returned in July last year to resume his duties.

Lately, he had been receiving treatment at the Aga Khan Hospital in Nairobi.

Kenya

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