Dar es Salaam. Vodacom Tanzania PLC has appointed businessman Ali Mufuruki as board chairman with effect from 01 August.
The mobile network operator listed its shares on the Dar es Salaam Stock Exchange on Tuesday after completing the initial public offering (IPO) which was fully subscribed to raise Sh476 billion as planned.
Mr Mufuruki succeeds Mr Vivek Mathur following his recent resignation, the company said in a statement published on Thursday.
Non-executive directors, including the chairman, are appointed in accordance with the company’s articles of association and in line with corporate governance guidelines issued by Capital Markets and Securities Authority (CMSA).
“Mr Mufuruki brings with him a wealth of experience and influence from years of service in and out of the country,” stated Vodacom Tanzania’s chief executive officer Mr Ian Ferrao.
Mr Mufuruki is the founder and CEO of the Infotech Investment Group. “I look forward to facilitating collaborative working relationships with directors, management and other stakeholder groups to deliver on the board’s mandate,” stated Mr Mufuruki.
Vodacom also welcomed three new interim directors from Vodacom Group representing majority shareholders. These include Shameel Joosub (Vodacom Group ceo), Till Streichert (Vodacom Group chief financial officer), and Matimba Mbungela (Vodacom Group Human Resources director).
Directors representing minority shareholders will be appointed during the company’s annual general meeting where the board will be fully re-constituted.