The King Of Logistics Replaces Michael Joseph At Safaricom
“I am a gregarious; enormously self-confident person possessed of copious amounts of drive, determination, energy and will to win.”
One of Kenya’s most celebrated bankers John Ngumi is set to replace Safaricom’s board Chairman, Michael Joseph, starting 1st of August 2022.
Mr. Ngumi holds a degree in Philosophy, Politics and Economics from St. Peter’s College, Oxford University, United Kingdom.
PHOTO: JOHN NGUMI
He currently serves as board chair at the Industrial & Commercial Development Corporation (ICDC), which is leading the effort to implement the Kenya Transport & Logistics Network, encompassing Kenya Ports Authority, Kenya Pipeline Company Limited and Kenya Railways Corporation. He also serves on the board of Kenya Airways PLC.
Mr. Ngumi started his banking career at National Westminister Bank, London and has worked for various institutions including Grindlays Bank, Citibank, Barclays Bank and Standard Bank of South Africa establishing himself as East Africa’s foremost corporate and investment banker.
He has immensely established himself as East Africa’s foremost corporate and investment banker working with local and international corporates that have an East African regional presence, in over a 35-year tour of duty.
Despite his enormous achievements, he once went very broke and his properties set for auction.
“We had a staff of about 34, and I felt it was up to me to ensure that I kept paying them until they found other jobs, but it meant I borrowed heavily. I ended up mortgaging my house three times,” recalled Ngumi, while speaking to The Standard in a past interview. “I paid back. But oh, boy! That was a tough time.”
His takeover at Safaricom, comes right after the leading telco company continues to rake in steady profits across its revenue. His predecessor, Michael Joseph, has been the board chairman since 2020.
MICHAEL JOSEPH, CHAIRMAN SAFARICOM PLC
We wish the king of Kenyan logistics well in his new endeavor.