Safaricom contributed KES 722 billion to the Kenyan economy as it sustained 1,283,329 jobs in the last financial year. This is according to the telco’s 13th Sustainable Business Report, which was launched as it begins its transition to become Africa’s leading purpose-led technology company by 2030.
Safaricom’s economic value to society through its operations stood at KES 562.2 billion while M-PESA’s social value stood at KES 348 billion as the platform continues to transform lives by impacting customers, agents and dealers.
The telco also reported over 8 million Kenyans have been impacted by community projects through the Safaricom and M-PESA Foundations. It has also increased the percentage of women in leadership to 42.4%.
“Safaricom has been navigating rapidly changing business and social environments by deploying sustainable business practices. Looking ahead, our Environmental, Social, and Governance (ESG) principles will be anchored in technology as we prepare to transition to a TechCo by 2030. This will grant us new opportunities to meet the evolving needs of our communities, improving customer experience and maintaining environmental stewardship,” said Peter Ndegwa, CEO, Safaricom.
The report was launched a day after Safaricom celebrated 24 years of transforming lives. The company founded on October 23rd, 2000, released its first sustainability report in 2012, becoming one of the foremost organizations to embrace ESG in its business strategy.
“Sustainability has enabled us to have a competitive edge for the last 24 years which has made us more than just a telco but a company that has driven empowerment, innovation and opportunity among our customers and communities. This is possible because we put purpose before profit,” added Mr. Ndegwa.
The telco incorporated 9 out of the 17 SDGs, enabling it to impact millions of Kenyans in community projects, carry out climate action through countless tree planting initiatives, clean energy solutions and a circular economy, while also implementing diversity and inclusion, achieving 50% gender parity in its workforce.
Since its entry in Ethiopia, Safaricom has registered 4.5 million customers while 38% of the population has been connected. Eighty-four [numbers at the start of a sentence should be written out in words]of the telco’s sites in the country are solar powered while its 1,052 grid-connected sites are powered by renewable energy sources. It has also reached 23% female representation in its senior leadership in Ethiopia.
“As we work towards our vision of being Africa’s leading purpose-led technology company, our commitment is to drive positive change and create lasting value for our customers and stakeholders in Kenya and Ethiopia. We have embraced the SDGs as a means of driving innovation, lowering costs through clean energy and building partnerships to realize our ambitions,” said Adil Khawaja, Chairman, Safaricom PLC.
Safaricom secured another tranche of KES 15 billion Sustainability Linked Loan (SLL) with a consortium of banks including Standard Charted Bank, Kenya Commercial Bank (KCB), Stanbic Bank and Absa Bank which will finance key areas of net zero carbon emissions, tracking gender diversity and establishing social equality.
