CEO OF THE YEAR 2026
DR. PETER NDEGWA – MANAGING DIRECTOR & CEO – SAFARICOM PLC
Safaricom PLC recently announced a 52.1% growth in group net income to KES 42.8 Bn for the six months of the 2025/2026 FY, demonstrating resilience and growth across its Kenya and Ethiopia operations. Without strong values and true leadership at the helm, these magnitude of results would be impossible to realize. Dr. Peter Ndegwa exemplifies these values and leadership in his role at Safaricom PLC.
Since becoming Managing Director (MD) and Chief Executive Officer (CEO), Ndegwa has consistently demonstrated high level of integrity and humility, two most important guiding principles in top executive leadership that have remained his hallmark. Upon his appointment on April 1, 2020, he emphasized the importance of integrity, which he defined then and continue to do now as “…doing what you say,” and humility, knowing, “…there is always something more you can do.” Five years on, Safaricom PLC Kenya operations alone continue to register phenomenal growth, with a record 22.6% increase in Net income, standing at KES 58.2 Bn, a 9.3% jump in service revenue to KES 194 Bn, and 13,1% growth in EBIT to KES 89.5 Bn.
Ndegwa’s leadership stands out for its human-centric nature, placing the needs of all stakeholders at the heart of Safaricom’s strategy. His focus on listening to the voices of various stakeholders has ensured that Safaricom’s business model aligns with their needs, from employees to investors. This has fostered a culture of inclusivity, where everyone feels valued, supported, and integral to the company’s success. This people-first philosophy has also played a significant role in Safaricom PLC’s ability to remain competitive and agile in an ever-evolving industry. This is best exemplified by a reduction of losses in Ethiopia by 20.1 % year-on-year to KES 15.5Bn, even as pricing and currency reform challenges persist.
One of Ndegwa’s most noteworthy achievements has been leading Safaricom PLC’s successful expansion into Ethiopia in 2022, marking a historic step for the company as it ventured into one of Africa’s largest untapped telco markets. Under Ndegwa’s visionary and focused leadership on executing the telco’s Vision 2030 strategy cycle, through segment-led execution and the provision of integrated solution, Safaricom Ethiopia is experiencing significant growth, attaining 6.1 million 90-day active customers within the network. In just 18 months, Safaricom Ethiopia has managed to cover 46 percent of the population with its network services, positioning the company as a key player in Ethiopia’s fast-developing telco industry.
Additionally, its mobile money platform M-PESA, another pillar of Safaricom PLC’s success, has already reached over 8.3 million registered users in Ethiopia – a remarkable feat that reflects Ndegwa’s strategic foresight and ability to successfully navigate new markets.
His commitment to innovation and sustainability has also been a defining feature of his leadership at the Telco.
In 2025 alone, the company continued to invest heavily in communities, key among them being the recent launch of the Citizens of the Future program, an initiative set to benefit 500 schools with infrastructure upgrades, 10,000 scholarships and over 56,000 beneficiaries of digital literacy over the next five years.
‘It has been 25 years of transforming lives, through innovation and community empowerment, a journey powered by purpose and collaboration. Safaricom PLC has transformed the lives of over 22 million Kenyans through the Safaricom and M-PESA Foundations. We remain anchored in purpose, driving sustainable growth and positive change,’ says Ndegwa.
Included among the key highlights of his tenure includes a KES 43 Bn investment in community projects in Education, Health, Economic Empowerment and Environmental Conservation and Livelihoods, the launch of Safaricom Ethiopia Foundation on July 1, 2025, where already over ETB6500 million has been injected towards community projects.
Born in Nyeri, Kenya, in 1969, Ndegwa’s journey to the helm of Safaricom PLC is rooted in a deep commitment to education, global experience, and the influence of his formative years. His parents played a crucial role in shaping his values of integrity, hard work, and purpose, which have been key to his leadership approach. Ndegwa attended Starehe Boys’ Centre and School, where he encountered influential mentors like the late Dr. Geoffrey Griffin, whose guidance enriched his development as a leader.
He pursued a Bachelor of Arts (BA) degree in Economics at the University of Nairobi (UoN), followed by professional certification as a Chartered Public Accountant (CPA) through the Institute of Chartered Public Accountants of Kenya (ICPAK).
His career began at PricewaterhouseCoopers (PwC), where he quickly rose through the ranks to become an Audit Manager. His ambition and drive led him to relocate to London, United Kingdom (UK), as part of PwC’s talent development program. While in London, Ndegwa pursued a Master of Business Administration (MBA) degree in Finance and Strategy from the London School of Business, further expanding his expertise in corporate advisory and project management.
Ndegwa’s global experience continued to grow as he took on senior roles in European and American banks and insurance companies, eventually becoming Associate Director and Senior Manager in corporate advisory.
After a decade at PwC, Ndegwa returned to Kenya to join East African Breweries PLC (EABL) as the Strategy Director, later becoming Finance Director and Chief Financial Officer (CFO). His experience at EABL in shaping corporate strategy and overseeing key business initiatives appear to have prepared him for the later stages of his career.
Ndegwa subsequently took on the role of CEO for Diageo subsidiaries Guinness Ghana Breweries PLC and Guinness Nigeria PLC, where his leadership led to significant growth for both companies. His success in these roles earned him a global leadership position as Diageo’s MD for Continental Europe, overseeing operations in 50 countries across Europe, the Middle East, and North Africa.
In recognition of his significant contributions to business and leadership, Ndegwa was recently awarded an Honorary Doctorate in Business Management from Meru University of Science and Technology, officially bestowing him the title before his name: Dr. Peter Ndegwa.
Ndegwa’s rich international exposure, coupled with his deep understanding of the transformative power of education and mentorship, made him the ideal candidate to be the first Kenyan to lead Safaricom. His global outlook, combined with a commitment to local impact, has enabled him to navigate Safaricom PLC’s ambitious expansion plans while ensuring that the company remains deeply connected to its Kenyan roots. As an industry thought leader, Ndegwa embodies the balance of effectiveness and human-centricity, making him a driving force behind Safaricom PLC’s continued success.
Nationally, Dr. Peter Ndegwa is frequently called upon by the President of Kenya to lead various working groups, spanning both industry and CSR initiatives, including more recently, the National Steering Committee on Disaster Response.
As he leads Safaricom PLC past its 25 years of connecting and transforming lives with ‘Shangwe@25, Dr. Peter Ndegwa is the Business Monthly EA 2026 CEO and MD of the year.
CONTENT: SAFARICOM PLC
