Airtel Money picks ex-CDSC boss as board chair – Business Daily
The former CDSC CEO Rose Mambo has joined the board of Airtel Money Kenya as chairperson. FILE PHOTO | NMG
The former chief executive of the Central Depository and Settlement Corporation (CDSC) Rose Mambo has joined the board of Airtel Money Kenya as chairperson.
Her appointment is seen as a bid by Airtel Networks Kenya to tap her contacts and experience in the local financial services sector.
“The Board of Directors of Airtel Money Kenya Limited has today appointed Ms Rose Mambo, a seasoned corporate leader, as its chairperson,” said the telco.
“She brings vast board and management experience and understanding of the Kenyan business landscape.”
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 Thursday.
“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 $550 million (Sh65.2 billion) from four institutional investors.
Ms Mambo was the CDSC chief executive for 12 years. She served as the head of legal, compliance, and company secretary at the Nairobi Securities Exchange (NSE).
She also worked as senior State counsel in the Office of the Attorney General.
Ms Mambo holds an MBA 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.
She is an Advocate of the High Court of Kenya and a Fellow of the Institute of Certified Secretaries of Kenya.