The outgoing Managing Director of Vodacom Tanzania says he is proud of his leadership of the telco over the last three years which included a listing of 25% of a stake in the company to the value of TZS 476,000,085,000 in an initial public offering nearly eight months ago. More than 40 000 Tanzanian investors subscribed to the IPO and made up 60% of the offer with 40% going to international investors.
Speaking to ITWeb Africa from Dar es Salaam, Ian Ferrao described the IPO (which remains the largest in the history of Tanzania's capital markets) as one of the key achievements of his three-year tenure.
"My final day here is at the end of July. I can tell you it has been an excellent three years. We have taken the company through a strong turnaround and we've listed it on the stock exchange and it is in great shape. I'm now looking forward to handing over to Sylvia who will be taking over from the first of June, so we'll have a good amount of time to work together."
Incoming Vodacom Tanzania MD, Sylvia Mulinge is currently director for consumer business at Safaricom in Kenya where she has worked for the last ten years.
Ferrao, who joined Vodacom Tanzania from the position of Managing Director at Vodacom Lesotho, says he is committed to working with Mulinge to ensure a smooth changeover.
"The plan is not to go anywhere actually. This is a personal decision and I am looking to pursue other interests. I will take a short career break and then make a decision later on. There will be an extensive handover period."
Ali Mufuruki, Chairman of the Board at Vodacom Tanzania lauded Ferrao for his achievements in an announcement by the company on Monday afternoon.
"The Board is thankful for Ian's years of service and his fantastic leadership. Ian exits the Company having steered us through significant milestones, leaving a progressive legacy in the Tanzanian market. He has been a tremendous asset to Vodacom Tanzania. We are grateful for his strong leadership over the 3 years which was grounded by a resilient and sustainable 3-year turnaround strategy and a vision which transformed how Vodacom does business today. He leaves behind a strong leadership team which is committed to the Company's success,"
Mufuruki added that he is looking forward to welcoming the new MD and is confident that work with the executive leadership team at Vodacom Tanzania will ensure that the company enjoys continued success in the future.