Airtel Money Kenya names new Chairperson

Airtel Money Kenya names new Chairperson
Rose Mambo. Chairperson, Airtel Money Kenya Limited

Airtel Money Kenya Limited, the new spinoff mobile money company of Airtel Networks Kenya, has announced the appointment of Rose Mambo as its chairperson.

According to a statement, Mambo has over 26 years’ extensive leadership experience in capital markets, governance, company law, and administration both in Government and the private sector.

Until September 2019, she was the Chief Executive Officer at the Central Depository and Settlement Corporation (ICDC).

She was previously Head of Legal and Compliance and Company Secretary at the Nairobi Securities Exchange and served as Senior State Counsel in the Office of the Attorney General.

Rose holds a Master of Business Administration degree from Strathmore Business School; a Master of Laws degree from American University, a Bachelor of Laws degree from the University of Nairobi; and a Diploma from the Kenya School of Law.

The Board of Directors said, “We wish to congratulate Rose Mambo on her new appointment and wish her all the best in this assignment. Her expertise from across the public and private sectors will add tremendous value to Airtel Money as we work towards deepening financial inclusion in the country.”

Airtel Networks Kenya recently split its mobile money business into a separate entity known as Airtel Money Kenya Limited following the entry of minority shareholders into the venture.

The new entity took over the operations of the firm’s money services effective 21 July 2022.

“Following this business separation, Airtel Money Kenya Limited will take over and continue the provision of the Airtel Money Services, in collaboration with the licensed telecommunications network of Airtel Networks Kenya Limited,” the company said recently.

The company said the two businesses will continue to share customer data and that continued use the mobile money service.

The spinoff comes after London-listed Airtel Africa Plc sold a 25.77 percent stake in its local mobile money business as part of a continental deal that has seen it raise US$550 million (Sh65.2 billion) from four institutional investors.