Safaricom Announces New Director As Francesco Bianco Exits

• Giant telecommunications company Safaricom named James Ludlow as a new director effective Wednesday, August 28
• According to Safaricom, Ludlow holds a bachelor of science degree in pure mathematics from the University of Wales, Swansea
• Ludlow is currently the group reward and policy director of human resources at Vodafone Group Services Limited

TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.

Giant telecommunications company Safaricom has appointed a new director following the exit of Francesco Bianco.

Who is the new Safaricom director James Ludlow?

In a notice dated Wednesday, August 29, seen by TUKO.co.ke, the telco named James Ludlow as a new director effective Wednesday, August 28.

Bianco exited the Safaricom Board of Directors on August 1.

According to Safaricom, Ludlow holds a bachelor of science degree in pure mathematics from the University of Wales, Swansea.

He is a member of the Institute of Chartered Accountants England and Wales ACCA.

"Ludlow is currently the group reward and policy director of human resources at Vodafone Group Services Limited and is responsible for the strategic design, planning, management and communication of the company's short and long-term reward plans. He also provides remuneration and governance advice to all Vodafone Group entities," the notice stated.

How much did Safaricom directors earn?

Top executive and non-executive officers at Safaricom earned a fortune in the financial year ending March 2024.

Safaricom chief executive officer (CEO) Peter Ndegwa topped the highest-paid directors of the telecommunication firm as he grew his shareholding.

Ndegwa's shares at Safaricom increased to 6,208,543, valued at KSh 107.41 million, based on the current share price of KSh 17.3 per share.

Safaricom chief financial officer (CFO) Dilip Pal followed closely with a stake of 1,342,105 shares valued at KSh 23.41 million.

Pal pocketed KSh 58.9 million salary plus KSh 35.1 million bonus and KSh 19.8 million non-cash benefits.

Karen Kandie's shareholding at Safaricom grew to 235,800 in 2024, valued at KSh 4.08 million, up from 147,300 shares (KSh 2.5 million) in 2023. She took home KSh 5.8 million in director's fees plus KSh 200,000 in non-cash benefits.

How much did Safaricom pay in dividends?

The telco paid dividends amounting to KSh 48.08 billion during the same period under review.

The company maintained a KSh 1.2 dividend payout per share despite a drop in its group net profit.

Safaricom board recommended a final dividend payout of KSh 0.65 per share, amounting to KSh 26.04 billion, plus KSh 0.55 (KSh 22.04) interim dividend paid in March 2024, bringing the total to KSh 48.08 billion.

Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke