By Ndune Mwaringa
The Chief Corporate Affairs Officer at Safaricom Plc, Mr. Stephen Chege has been elected to the Board of Directors at the Nairobi Securities Exchange Plc (NSE), solidifying the place the telco has in the Bourse.
This comes as a result of their 67th Annual General Meeting that was held virtually at the beginning of June that saw a change in the Board of Directors at the NSE.
The election of Mr. Chege comes at a time when the telco accounts for more than half of all the trading at the NSE. In May, it accounted for 63 percent of all the trading.
Stephen Chege boasts of more than twenty years’ experience and has a vital role which entails growth and safeguarding of Safaricom’s reputation, shaping the policy regulatory environment and overseeing the growth of Safaricom’s sustainability agenda.
Mr. Chege will be joined at the NSE Board by Mr. Donald Wangunyu, the founder and CEO of the Robo-Advisor, FourFront Management, into the Directors’ catalogue.
The NSE AGM saw the retirement of four of the existing directors: Mr. Samuel Kimani, Mr. Bob Karina, Mr. Hosea Kili and Mrs. Nasim Devji.
Two directors however, Ms. Risper Alaro-Mukoto and Mr. Paul Mwai had retired by rotation but being eligible, were re-elected as Directors.
Appointment of the Board Chairman and Vice-Chairman
During another special meeting of the Board of Directors held soon after, it was resolved to reappoint Mr. Kiprono Kittony as the Chairman of the Board and to appoint Mr. Paul Mwai as the Vice-Chairman of the Board.
Founded in 1954, the Nairobi Stocks Exchange has a six-decade heritage in listing equity and debt securities. NSE demutualized and self-listed in 2014.