East Africa's largest telecommunication company Safaricom could now witness epic succession politics following the demise of Bob Collymore on Monday.
Mr Collymore,61, died on Monday following a long battle with cancer. He took over from Michael Joseph in 2010 and had his contract extended by one year in May 2019 despite earlier indications that he was to leave in August.
"Our beloved CEO @bobcollymore has passed. We extend our deepest condolences to his family, our colleagues, partners and the nation at large," Safaricom tweeted.
In April, Collymore who had reportedly asked to be released by August this year, said that the company would still run with or without his presence.
“I have every confidence that whether I’m here or not, that this company will run ... This is an institution. It is not a company which is just ran by a single person,” he said.
But the Government of Kenya had derailed his exit following demands that his successor ought to be a Kenyan. Collymore was a Briton although he has roots in Guyana.
Currently, Kenyan government controls 35 per cent of shares with South Africa's Vodacom controlling also an equal share. The high stakes are behind the government's push to have a Kenyan CEO.
In April, Safaricom held interviews for Collymore's successor and reportedly settled for a foreigner. The government rejected the decision forcing the board to go to drawing board.
“The state has said ‘no’. They might have to negotiate,” said the source with knowledge of the succession process.
ICT Cabinet Secretary Joe Mucheru was quoted by Business Daily also rooting for a Kenyan CEO. He said there are Kenyans who can do the job.
“I would be very surprised if they can’t find a Kenyan. It will be hard for them to justify, what is so special about telecoms?” Mucheru told Reuters.
British based Vodafone, which is the mother company of both Safaricom and Vodacom has 5 per cent control. Other shares are distributed among individual investors.