Safaricom has made a significant impact on the Kenyan economy, contributing KES 983 billion and sustaining over 1.28 million jobs in the last financial year, as revealed in the company’s 13th Sustainable Business Report launched today.
The report underscores Safaricom’s commitment to evolving into Africa’s leading purpose-led technology company by 2030.
According to the report, Safaricom’s economic value to society from its operations reached KES 562.2 billion, while its mobile money platform, M-PESA, contributed KES 348 billion in social value. The telco continues to transform lives, positively impacting over 8 million Kenyans through initiatives from the Safaricom and M-PESA Foundations.
CEO Peter Ndegwa emphasized the company’s focus on sustainable business practices amidst a rapidly changing landscape. He stated, “Our Environmental, Social, and Governance (ESG) principles will be anchored on technology to meet the evolving needs of our communities.”
The report also highlights Safaricom’s inclusion of nine out of the 17 Sustainable Development Goals (SDGs), promoting community projects, climate action, and gender diversity. Notably, women now hold 42.4% of leadership positions within the company.
Safaricom’s expansion into Ethiopia has seen it connect 38% of the population, garnering 4.5 million customers, while also establishing solar-powered sites to enhance sustainability efforts.
Moreover, the company has secured a KES 15 billion Sustainability Linked Loan to finance initiatives aimed at achieving net-zero carbon emissions and advancing gender equality.
Key highlights from the report include:
- 22 million Kenyans accessing the Hustler Fund and Women Enterprise Fund.
- 5G infrastructure established in 43 counties.
- Over 1,400 sites powered via solar and hybrid clean energy.
- 290 tonnes of electronic waste recycled with a 100% refurbishing rate.
