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5 July 2019

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Bob collymore

Bob Collymore, Kenya's telecoms mogul, dies aged 61

Tributes pour in for head of Safaricom, who helped east Africa pioneer cashless payments long before Apple Pay

Bob Collymore, the chief executive of east Africa’s largest and most profitable mobile network operator Safaricom, died on Monday aged 61, after a two-year battle with cancer.

Tributes poured in from across east Africa for the Guyana-born British businessman, who steered Safaricom through nearly a decade of innovative expansion during which its user base doubled and profits increased 380%, turning it into a $10.8bn company. According to the company’s most recent annual report, Safaricom’s business contributed 6.5% to Kenya’s total GDP in 2018.

Kenya’s president, Uhuru Kenyatta, said: “Although Bob Collymore has left us, his inspirational life will remain a great legacy, not just to Kenyans, but also to the whole world.” The Kenyan government has a 35% stake in Safaricom.

Safaricom’s products allowed millions of Kenyans who were excluded from the banking system to pay for everything from groceries to taxi rides, turning Kenya and east Africa into pioneers of cashless payments, long before Apple Pay and Google Pay.

The company’s products include the flagship M-Pesa service for mobile payments, now used by 20 million people. Although launched before Collymore joined the company, under his tenure it has become an essential part of Kenyan life. Collymore, who was appointed CEO in 2010, also oversaw the launch of a string of new products, such as the overdrafts service Fuliza and micro-savings service M-Shwari.

Dubbed “bubbly Bob” in Kenyan media for his sharp-witted and jocular media appearances, Collymore was praised for promoting gender equality at Safaricom, where almost 50% of staff are women.

Collymore had been receiving treatment for acute myeloid leukaemia in the UK. In a press conference announcing his death, Safaricom’s board chair, Nicholas Ng’ang’a, said that Collymore had continued to play an active role in guiding the company until the end. “He has continued even from his bed and from his house to give leadership to the company, for which we are truly grateful.”

In a television interview with Kenya Citizen TV in 2018, Collymore joked about his cancer treatment, saying that when his doctors told him chemotherapy would last six to nine months, he considered that “being a Safaricom person I thought we could probably do it in five”.

Wallace Kantai, head of comms at Central Bank of Kenya, described how loved Collymore was in Kenya’s business community, in an interview with KTN News. Referring to Collymore’s willingness to engage with various people he said, “You feel like you’re the most important person in the room … Bob always made you feel larger than you were.”
Source: The Guardian

Michael Joseph appointed as interim Safaricom CEO

Safaricom, Kenya’s most valuable company, has appointed Michael Joseph as interim CEO following the death of Bob Collymore.

Joseph, who previously worked as the company’s chief executive until 2010 when Collymore took over, is a member of its board, and chairman of Kenya Airways. He returns to Safaricom’s executive management after Collymore died on Monday following a battle with cancer.

Joseph will serve “in the position until a substantive CEO is appointed”, he said Tuesday by phone.
Source: Bloomberg

Naspers appoints new CEO for South Africa

Naspers has appointed Phuthi Mahanyele-Dabengwa to the global Naspers management team as chief executive officer for South Africa.

Reporting directly to Bob van Dijk, Group CEO of Naspers, Mahanyele-Dabengwa will be based in Johannesburg where she will lead the group’s day-to-day business in South Africa and represent its interests in the country.
Source: Business Tech