Safaricom Ethiopia Telecommunications PLC has named Samuel Munyua as its new Chief Finance Officer, effective 1 November 2026. The company announced the appointment on 3 November, saying it is strengthening its financial leadership as the operator moves deeper into its commercial phase.
A Finance Veteran With Over 20 Years of Experience
Munyua has more than two decades in finance. His expertise spans financial strategy, governance, treasury, financial controls and business performance- areas a telecom operator needs to get right as it scales.
He holds a Bachelor of Commerce degree in Finance from the University of Nairobi and is a Certified Public Accountant. He has also completed the Senior Executive Program for Africa at Harvard Business School.
From Safaricom Kenya to Addis Ababa
Munyua is not new to the Safaricom family. He joined Safaricom Kenya in 2021 as Group Financial Controller. In that role, he helped strengthen the group’s financial position and led major funding initiatives, including the company’s first KES 20 billion Green Bond. He also provided financial support for Safaricom’s expansion into Ethiopia, so he already knows the numbers behind the Ethiopian business.
Before Safaricom, he held senior finance roles at KCB Bank Kenya and Barclays Bank Kenya, now Absa Bank. That mix of banking and telecom experience matters because Safaricom Ethiopia also runs a mobile money business, M-PESA, alongside its network operations.
Why the Timing Matters
The appointment comes as Safaricom Ethiopia moves out of its heavy-spending market entry phase. Results reported in May showed revenue growth of more than 119 percent, with startup losses narrowing. The Ethiopian business is also on a path toward break-even at the earnings level, a milestone Safaricom Group executives have described as important to investors.
A growing operator in a new market faces constant pressure on capital spending, funding costs, foreign exchange exposure and cost control. The CFO sits at the centre of all of these. Munyua’s experience raising funds and managing group finances will be tested as the company pushes toward profitability.
What It Signals
The choice of a finance leader from within the Safaricom Group points to continuity. Munyua already understands the group’s reporting standards, funding structure and expectations for the Ethiopian unit, which should shorten the learning curve.
For Ethiopia’s telecom sector, the appointment shows that Safaricom is investing in senior talent as competition with the state-owned incumbent continues and demand for mobile data and digital financial services grows.
Munyua takes charge of the finance function at a point where the numbers are improving, but the work of reaching sustained profitability is still ahead. How he balances growth spending against financial discipline will be worth watching in the coming quarters.
