Michael Joseph Returns with De La Rue Role and Kenya Airways Plan to Have 100-Aircraft Fleet

Hello and welcome to today’s edition of The Business Roundup with Daisy. This week, the focus is on major developments in Kenya’s corporate and infrastructure landscape, from a high-profile board appointment and an ambitious airline expansion plan to new leadership changes at Kenya Pipeline Company following Uganda’s strategic investment.

In this edition, we focus on these three leading stories:

Michael Joseph Returns with De La Rue Board Role Following Ownership Shake-Up
Kenya Airways Unveils Plan to Grow Fleet to 100 Aircraft by 2035
Ugandan Officials Join KPC Board After Strategic Investment in Pipeline Company

Major This Week

Michael Joseph Returns with De La Rue Role

Former Safaricom CEO Michael Joseph has joined the board of De La Rue Kenya EPZ Limited following major changes in the company’s ownership and governance structure.

He is one of three new directors appointed alongside Andrew Pkemoi Lopokoiyot of Wilken Group and Ugandan businessman Humphrey Arnold Munyamerere Nzeyi, founder of Invicta Africa Limited.

Joseph’s career highlights:

Studied electrical engineering at the University of Cape Town.
Became Safaricom’s founding Chief Executive Officer in 2000 and served until 2010.
Oversaw Safaricom’s growth from fewer than 18,000 subscribers to more than 17 million.
Led the launch of M-PESA in 2007.
Returned as acting Safaricom CEO in 2019 following the death of Bob Collymore, serving until March 2020.
Served as Safaricom board chairman before leaving the board in August 2023 after a 23-year association with the company.
Chaired Kenya Airways from October 2016 to June 2025.
Currently chairs the M-PESA Foundation and the M-PESA Foundation Academy, and previously served as Vodafone’s Director of Mobile Money.

De La Rue has operated in Kenya since 1966 and established its currency printing plant in Ruaraka in 1992, producing Kenyan banknotes for more than three decades.

In 2017, the National Treasury acquired a 40 percent stake in De La Rue Kenya EPZ Limited, with Thomas De La Rue AG holding the remaining 60 percent.

Updated company records dated July 28, 2026, show Thomas De La Rue AG transferred its entire 60 percent stake to Mauritius-registered Monarch Capital, marking a significant ownership change.

Kenya Airways Plans to Have 100-Aircraft Fleet by 2035

And in other major news, Kenya Airways plans to expand its fleet from the current 32 aircraft to 67 by 2030 and 100 by 2035 as it targets growth in passenger numbers from 5.2 million to 9 million annually.

The airline announced the expansion during the Kenya Travel Agents Engagement & Awards 2026 in Nairobi, where it recognized top-performing travel agency partners.

“Kenya Airways plans to grow its fleet from a total of 32 aircraft today to 67 by 2030, and 100 by 2035, supported by the increase of the carrier’s passenger numbers projected to reach 9 million by 2030, up from 5.2 million today,” the airline statement read in part.

Acting Group Managing Director and CEO Capt. George Kamal said travel agents account for about 60 percent of the airline’s passenger revenue, making them its largest distribution channel.

The expansion follows the return of a 400-seat Boeing 777 to the fleet on July 17, 2026, after a decade-long absence. The aircraft is currently operating flights between Nairobi and London Heathrow.

During the awards, BCD Travel Limited (Highlight Travel) was recognized as the top revenue contributor for 2025, while Hemingways Travel and Satguru Tours & Travel were named first and second runners-up, respectively.

Kenya Airways said the fleet growth and strengthened partnerships with travel agents form part of its strategy to rebuild capacity, expand its network and increase market share.

Ugandan Officials Join KPC in New Board Appointments

Kenya Pipeline Company (KPC) has appointed five new Non-Executive Directors to its board, with the changes taking effect from July 28, 2026.

The appointments include two senior Ugandan government officials alongside three Kenyan public sector professionals.

The new appointees are:

Dr. Ramathan Ggoobi – Permanent Secretary and Secretary to the Treasury, Uganda’s Ministry of Finance, Planning and Economic Development.
Ms. Irene Pauline Bateebe – Permanent Secretary, Uganda’s Ministry of Energy and Mineral Development.
Eng. Meshack Otieno Kidenda, MBS, HSC – Engineer and public sector leader with over four decades of experience in infrastructure development, transport engineering and corporate governance.
Mr. Samson Kipkemboi Burgei – Alternate Director to Kenya’s Cabinet Secretary for the National Treasury and Economic Planning.
CPA Ronald Kenyanya Nyamosi – Alternate Director to the Managing Trustee and CEO of the National Social Security Fund (NSSF).

The appointments of Dr. Ramathan Ggoobi and Ms. Irene Pauline Bateebe follow Uganda’s investment in Kenya Pipeline Company (KPC) after its 2026 privatization.

Uganda, through the Uganda National Oil Company (UNOC), acquired about 20 percent of KPC during the IPO, securing board representation.

Uganda is KPC’s largest transit market, accounting for about 65 percent of transit volumes and contributing approximately 35 percent of the company’s revenue.