Vodafone Kenya, a subsidiary of South Africa’s Vodacom Group, will gain the power to nominate Safaricom’s next chief executive, but the board must ensure a “predominantly Kenyan character” in senior management, under governance changes set for a shareholder vote later this month.
The new rules mark the end of an era following the completion of a Sh244.2 billion stake sale that handed majority control to the South African telecoms giant.
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