Safaricom’s Chief Financial Officer ( CFO) , Sateesh Kamath, has been appointed to the role of Chief Financial Officer Vodafone Business, effective 1st July 2020.
According to a statement from Safaricom CEO Peter Ndegwa, Kamath will be reporting to Vinod Kumar, Chief Executive Officer at Vodafone Business and will become a member of Vodafone Group Finance Leadership Team. Ndegwa added that Safaricom will announce Kamath’s successor in due course.
Sateesh joined Safaricom PLC as CFO and Executive Director on the board on 1st August 2016 from Vodacom Tanzania Ltd, where he held a similar position.
He is credited with, among many other achievements, helping to build Safaricom shareholders’ value by 50% to KES1.2 trillion and improving business performance through Fit for Future Initiatives adding 6 percentage points on EBIT margin.
He played a key role in completion of acquisition of M-PESA Joint Venture from Vodafone and purchase of critical spectrum while ensuring efficient use of company’s funds.
He also assumed broader responsibilities in navigating the company through the phase when former Safaricom CEO, the late Bob Collymore was on medical leave and through transitions thereafter.
In his four-year tenure, Sateesh built a reputation as an outstanding finance expert in the region, a leader and a mentor, qualities that Safaricom have benefited greatly from.
Sateesh previously held senior roles over the last 12 years at both a global and local level for Vodafone operations in London, Australia, New Zealand, Turkey and Fiji and as has over 19 years’ experience in both mature and emerging markets across Asia, Europe and Africa.
He holds a Bachelor of commerce from Mahatma Gandhi University (First Class) and he is also a Qualified Accountant from the Institute of Cost and Works Accountants of India.
Vodafone is Safaricom’s mother company, with the telco being born out of a venture between the UK based operator and the Government of Kenya in the year 2000