Bob Collymore will remain at the helm of Kenyan’s largest telecoms for another 12-15 months after Safaricom extended his contract.
The CEO was set to step down in August for health reasons.
Collymore has steered Safaricom into East Africa’s most profitable company, by popularising M-pesa and growing Safaricom’s customer base.
However, he took a nine-month medical leave in late 2017 to return to his native England to battle cancer, and has now indicated he wants to step down, the sources told Reuters.
During his tenure, Safaricom’s share price has increased by more than 400 per cent to Sh28. He has also led the charge against regulatory efforts to clip the company’s wings due to its dominant size.
Earlier this month, Health CS Sicily Kariuki appointed him a board member of the National Cancer Institute.