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Safaricom confirmed today that Michael Joseph, founding CEO and board director, resigned on 1st August.
Joseph had been with Safaricom since 2000, serving as CEO from 2000 to 2010 and in various other positions including general manager and, most recently, chairman of the board.
Under his direction, Safaricom grew from having a subscriber base of less than 18,000 in 2000, to over 17 million upon his retirement as CEO in 2010. This achievement made Safaricom ‘the most successful company in East Africa’, according to the board in a statement. The company was also taken public in May 2002 under his leadership.
Joseph oversaw the launch of company innovations such as M-PESA in 2007, a mobile-based money transfer service. The resource has proved to be a huge success, seeing over 1 billion monthly transactions, and helping to increase Kenya’s financial inclusion from 26% in 2006 to 84% in 2021.
“Michael’s deep foundation and connection with the community is what brought about the phenomenal growth, development of innovative products and services, making Safaricom a part of the society. During his tenure, Michael oversaw highly successful launch and phenomenal growth of M-PESA and its related services,” said the board.
Joseph leaves Safaricom to focus on other areas of his life, including the continuation of his role as chairman of Kenya Airways.
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