Vodacom Group, the majority shareholder of Safaricom plc, has moved to tighten its control of Safaricom following the recent transaction that lifted its stake in the telco to 55%.Vodacom Group CFO Mariam Cassim and Chief Human Resources Officer Matimba Mbungela have joined Safaricom’s Board as Non-Executive Directors w.e.f August 13th 2026.
The entry of these two top executives to the board has seen the resignation of James Ludlow and Dr. John Kipngetich Mosonik. Safaricom said it is recalibrating the Board by bringing in additional expertise in fintech, corporate finance, human resources and organisational transformation to the telecom firm.
The appointments tighten the grip of Vodacom Group, Safaricom’s parent company, on the firm’s Board.
Cassim, the Chief Executive Officer, FinTech at Vodacom Group, brings experience spanning corporate finance, mergers and acquisitions, commercial management, innovation and business development.
Cassim, the Vodacom Group Fintech CEO, also has experience in commercial management and executive leadership. Her experience in innovation, business disruption and new business development enables her to develop commercially sustainable solutions that create value for both business and society. Mariam has been with the Vodacom Group in senior positions since 2017.
She is a Chartered Accountant and holds a Masters in Business Administration(MBA) from the University of Cape Town’s Graduate School of Business, where she graduated cum laude.
Her appointment comes as financial services becomes a critical cog to the wheel driving Safaricom’s growth strategy, particularly through M-PESA and other digital financial services.
Matimba Mbungela is the Chief Officer, Human Resources at Safaricom’s parent company, a position he has held since 2014. Prior to assuming this role, he served as Managing Executive, Human Resource at the Group from 2023, during which he held various senior positions within the Human Resources function.
He also spent three years on secondment to the Group as Regional Head of Organizational Effectiveness and Change, and Regional Head of Talent for Africa, Middle East and Asia Pacific region. Before this assignment, he was responsible for talent management at Vodacom for six years, where he successfully integrated the Group’s talent strategy into its global strategy.
Mbungela has held senior human resources roles in leading multinational organizations, including BMW South Africa and Unilever. He represents the Vodacom Employees Trust(Siyanda) on the YeboYethu Board and serves as a Non-Executive Director of Vodacom Tanzania Plc, Vodacom Mozambique and Vodacom Lesotho.
He has also served as a director on the Unisa Graduate School of Business Leadership Advisory Board since June 1st 2020. Mbungela holds a Bachelor of Administration degree from the University of Venda, a Masters in Business Administration(MBA) in Strategy & Human Resources from the University of KwaZulu-Natal and a Postgraduate Diploma in Human Resources from the University of Cape Town
Mbungela has more than two decades of experience in human resources and organisational leadership, including regional roles covering talent, organisational effectiveness and change.
His appointment comes as Safaricom and the wider telecommunications industry navigate rapid technological change, including AI adoption, new workforce requirements and digital transformation.
The composition of the new Safaricom Board therefore appears to be a preparation of the telcom giant’s next growth frontier- digital financial services and organisational transformation.
Vodacom’s strategy
Cassim’s fintech and corporate finance experience and background at Vodacom combined with Mbungela’s human resource expertise seeks to strengthen the Board’s oversight of Safaricom’s expanding financial-services business, as well as offer a fresh approach as the firm seeks new talent, leadership and organisational change that is able to keep pace with a rapidly changing technology landscape.
Safaricom said the new directors bring extensive experience that will support the company’s continued growth and transformation. The company thanked Ludlow and Mosonik for their contributions to Board and committee meetings and wished them well in their future endeavours.
According to Safaricom shareholder resolutions formalizing Vodacom’s buyout:
The next Safaricom CEO must be picked from Vodafone Kenya nominees.
- Vodafone Kenya gets one director per complete 10% stake implying five seats.
- Treasury uses the same 10% formula, implying two seats.
- Unresolved board disputes will be decided by Vodafone Kenya and Treasury-appointed directors.
- Brand changes and expansion outside Kenya/ Ethiopia require Government consent.
- Directors must follow the approved dividend policy unless shareholders approve otherwise.
- Safaricom’s board will have a minimum of 7 directors with no maximum cap.
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