What Bob Collymore’s death shows us

Bob Collymore (right) pays for shopping for customers at a supermarket after launching the M-Pesa 1 Tap in October 2017. [File, Standard]

It was unprecedented in Kenya that a chief executive could come back to the helm of a firm he led a decade earlier. Never mind that he is still on the board. That shows the power of a founder or pioneer and the beauty of founding a company.

Michael Joseph’s Safaricom return leaves shareholders like me asking if there are no employees of the 20-year old giant telco who could have acted as a CEO. It is unlikely that for all the years Bob Collymore was the CEO, there was no succession plan.

The cat came out of the bag. Each of the key shareholders, the Government of Kenya and Vodafone, want to provide the next chief executive. With some drumming up of nationalism, some feel it is time a Kenyan leads Safaricom. My hunch tells me the next CEO will be a woman and non-Kenyan. This will dovetail very well with the current clamour for women empowerment.

Beyond Collymore - may his soul RIP - we can ask a few questions in silence. One, Collymore became an economic superstar. The last time someone appeared on the front page of Kenya’s two leading dailies was when Michael Jackson died. Collymore’s demise was shared on WhatsApp groups with one member of a group I subscribe to declaring that she cried over it.

Safaricom’s success partly comes from its media blitz; its brand is recognised across all age sets. Its appeal comes from the fact that it is owned partly by the Kenyan public, with one of the most widespread share ownerships on the Nairobi Securities Exchange. Was offering 10 billion shares meant to widen this ownership and appeal?

Collymore was the face of Safaricom. He starred like another departed economic superstar, Lee Iacocca, who died at 94 after having led two of the big American motor firms, Chrysler and Ford. Both brands are making inroads into the Kenyan market with models such as Ford Ranger and Jeep.

Is there another country in the world where a telecom firm leads in profitability? By understanding our behaviour, Safaricom has made its money. For example, Kenyans prefer talking - hearing your voice - not texting. Americans seem to prefer texting. Kenyans love helping each other hence success of M-Pesa. We love borrowing hence Okoa Jahazi and Fuliza.

Mature industry

The use of local language, including variants of Sheng, shows the extent Safaricom understand us. Examples include the name Safaricom, M-pesa and tariffs such as Ongea, Tarifa and Sasa.

Two is that the telecommunications industry has matured. The impending merger of Telkom and Airtel shows the shakeout. How will Safaricom react to that? With accusation of dominance, Safaricom will most likely continue her innovation streams, which have led to her “dominance” particularly through M-Pesa.

The bill by a certain MP seeking to spin off M-Pesa as an independent firm does not make economic sense. Safaricom could lose the synergies and economics of scale and scope that goes with integrating M-Pesa, voice, data and financial services. It’s like removing the wheel of a car because it’s moving too fast. Needless to say, Safaricom and the growth of the telecom sector in Kenya has been enhanced by friendly regulation. Why do we want to reverse that ?

Three, the departure of Collymore and search for his replacement gives us a glimpse into how economic and business interests are safeguarded in Kenya. And to some extent Kenyan helplessness. While Kenyans were obsessed with Bob’s family life, the bigger issue would have been the company’s articles of association and how the various shareholders shared power and responsibility.

Four is that without a degree, Collymore rose to the helm of Kenya’s most profitable company. Should we close the universities? His rise demonstrates that skills, not certificates, will always matter. After all, the market employs skills not the papers. Would Collymore have headed such a big firm if he was born in Kenya?

Fifth, the CEO was eulogised by all Kenyans, from State House to the rural hamlets. He followed a now familiar pattern, cremation then a memorial service. The Kenyan elite have finally broken their attachment to cemeteries and land. Some could argue that this frees lots of land for economic use. Would you sell the piece of land where your parents are buried? Will the vast majority of Kenyans follow suit and start cremation? The modern burial ceremonies for the elite look very American. It seems Kenyans cannot get enough of America.

Sixth, we must celebrate even “small people”. I know men and women who brought up a dozen kids without a job. Who will celebrate them?

Seventh, the celebration of economic superstars, not just political leaders, is yet another sign that Kenya is becoming a modern nation where entrepreneurs are recognised. We should make that part of our culture. Giving politicians competition could moderate their excesses. They have been on the stage for too long.

Nine, Collymore was not Kenyan by birth but we never bothered about that, we focused on his contribution to the economy. Yet the other day we ranted against the Chinese doing the same at Gikomba. Immigrants worldwide make great entrepreneurs. How do we balance economic nationalism with entrepreneurship? How did other countries manage this balance? Is dual citizenship the solution?

Finally, when shall we get our Bob Collymores? How many Kenyans can be celebrated like him in other countries ?

- The writer teaches at the University of Nairobi