Safaricom has once again demonstrated its significant contribution to the country’s economy. According to the company’s 13th Sustainable Business Report, Safaricom contributed a substantial KES 722 billion to the Kenyan economy and sustained over 1.2 million jobs in the past financial year.

A Force for Positive Change

The report highlights Safaricom’s commitment to sustainable business practices and its role in driving positive social and economic change. The company’s operations generated an economic value of KES 562.2 billion, while M-PESA, its mobile money platform, contributed a social value of KES 348 billion.

Transforming Lives

M-PESA has been instrumental in transforming the lives of millions of Kenyans, providing access to financial services, and empowering individuals and businesses. The platform has impacted over 8 million Kenyans through community projects supported by the Safaricom and M-PESA Foundations.

A Focus on Women’s Leadership

Safaricom has also made significant strides in promoting gender diversity and inclusion. The company has increased the percentage of women in leadership positions to 42.4%, demonstrating its commitment to empowering women in the workplace.

A TechCo for the Future

As Safaricom prepares to transition to a technology company by 2030, its Environmental, Social, and Governance (ESG) principles will be anchored on technology.

This transformation will allow Safaricom to better meet the evolving needs of its customers and communities while also maintaining its commitment to environmental stewardship.

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A Symbol of Sustainable Business

Safaricom’s 13th Sustainable Business Report is a testament to the company’s dedication to responsible business practices and its positive impact on Kenya’s economy and society. As a leading corporate citizen, Safaricom continues to set a high standard for sustainable business in Africa.

A Pioneer in ESG

Safaricom, Kenya’s leading telecommunications company, has been a pioneer in integrating Environmental, Social, and Governance (ESG) principles into its business strategy.

Just a day after celebrating its 24th anniversary, the company released its latest sustainability report, showcasing its commitment to sustainable practices and positive impact on communities.

Key Achievements and Initiatives

The company’s sustainability report highlights several notable achievements:

• Financial Inclusion: Over 22 million Kenyans have benefitted from affordable financial services through the Hustler Fund and Women Enterprise Fund.
• Digital Infrastructure: 5G infrastructure has been rolled out in 43 out of 47 counties in Kenya, enhancing connectivity and digital access.
• Clean Energy: More than 1,400 sites are now powered by solar and hybrid clean energy, reducing Safaricom’s carbon footprint.
• Diversity and Inclusion: Women make up 42.4% of Safaricom’s senior management, while 3.2% of employees have disabilities, reflecting the company’s commitment to diversity and inclusion.
• Environmental Stewardship: Safaricom has collected and recycled or refurbished 290,438 tonnes of electronic waste, contributing to a cleaner environment.
• Community Impact: In Ethiopia, Safaricom has planted 4,500 trees under the Green Legacy project and partnered with a social enterprise to provide employment to women with disabilities.

Purpose Before Profit

As Safaricom’s CEO, Peter Ndegwa, emphasised, “Sustainability has enabled us to have a competitive edge for the last 24 years.” By prioritising purpose over profit, the company has been able to drive empowerment, innovation, and opportunity among its customers and communities.

A Focus on the SDGs

Safaricom has aligned its sustainability efforts with the United Nations Sustainable Development Goals (SDGs). The company has incorporated nine of the 17 SDGs into its strategy, making a significant contribution to addressing global challenges.

Expanding Impact in Ethiopia

Since entering the Ethiopian market, Safaricom has made significant strides in connecting the population. With over 4.5 million customers and 38% of the population connected, the company is playing a crucial role in driving digital inclusion.

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Sustainability in Action

Safaricom’s commitment to sustainability is evident in its operations. In Ethiopia, 84 of the company’s sites are powered by solar energy, and 1,052 grid-connected sites are powered by renewable energy sources. Additionally, Safaricom has achieved 23% female representation in its senior leadership in Ethiopia.

A Focus on Sustainable Financing

As part of its sustainability efforts, Safaricom has secured another installment of KES 15 billion in Sustainability Linked Loan (SLL) from a consortium of leading banks. This funding will be used to finance key areas such as net zero carbon emissions, gender diversity, and social equality.

A Vision for the Future

Safaricom Kenya, known for its commitment to customer satisfaction, provides multiple support channels, including the convenient Safaricom customer care and accessible Safaricom customer care number, ensuring assistance whenever needed.

The Safaricom app adds further ease, allowing users to manage services, explore new features like the Safaricom eSIM, and stay updated with the latest offerings.

Expanding its impact, Safaricom Ethiopia recently launched, aiming to deliver similar transformative services. For investors, tracking the Safaricom share price provides insights into its growth and performance across the region.

Safaricom’s sustainability journey is a testament to its commitment to driving positive change and creating a more sustainable future.

By focusing on financial inclusion, digital infrastructure, clean energy, diversity and inclusion, and environmental stewardship, Safaricom is setting a strong example for other businesses in Africa and beyond.