Safaricom has made a remarkable contribution of Ksh 722 billion to the Kenyan economy while supporting over 1.28 million jobs in the last financial year, according to its recently launched 13th Sustainable Business Report. This report marks a significant step in Safaricom’s journey towards becoming Africa’s leading purpose-driven technology company by 2030.
The report highlights that Safaricom’s overall economic value to society through its operations reached Ksh 562.2 billion, while the social value generated by M-PESA stood at Ksh 348 billion, reflecting the platform’s profound impact on customers, agents, and dealers.
In addition, over eight million Kenyans have benefited from community initiatives through the Safaricom and M-PESA Foundations, and the representation of women in leadership roles has increased to 42.4%.
“Safaricom is adapting to rapidly changing business and social landscapes by implementing sustainable practices. Our Environmental, Social, and Governance (ESG) principles will be anchored in technology as we evolve into a TechCo by 2030, enabling us to better meet the needs of our communities,” said CEO Peter Ndegwa.
Launched just a day after Safaricom’s 24th anniversary, the report reflects the company’s longstanding commitment to sustainability, having released its first sustainability report in 2012 and embraced ESG principles from the outset.
“Sustainability has provided us with a competitive edge over the last 24 years, transforming us from a simple telco into a catalyst for empowerment, innovation, and opportunity within our communities. This success stems from prioritizing purpose over profit,” added Ndegwa.
The report notes Safaricom’s integration of nine of the 17 Sustainable Development Goals (SDGs), enabling significant community impact through climate action initiatives, clean energy solutions, and a focus on diversity and inclusion, achieving 50% gender parity in its workforce.
Since its launch in Ethiopia, Safaricom has gained 4.5 million customers, connecting 38% of the population. Of its sites there, 84 are solar-powered, and 1,052 are connected to renewable energy sources. The company also achieved 23% female representation in senior leadership roles in Ethiopia.
“As we pursue our vision of becoming Africa’s leading purpose-led technology company, our commitment to driving positive change and creating lasting value for our customers and stakeholders in Kenya and Ethiopia remains steadfast. We are leveraging the SDGs to foster innovation, reduce costs through clean energy, and build partnerships that realize our ambitions,” stated Adil Khawaja, Chairman of Safaricom PLC.
Safaricom also secured a Ksh 15 billion Sustainability Linked Loan (SLL) from a consortium of banks, including Standard Chartered, Kenya Commercial Bank (KCB), Stanbic Bank, and Absa Bank. This funding will support initiatives aimed at achieving net-zero carbon emissions, enhancing gender diversity, and promoting social equality.
Key Highlights from the Report:
– 22 million Kenyans accessing affordable Hustler Fund and Women Enterprise Fund
– 5G infrastructure established in 43 out of 47 counties
– Over 1,400 sites utilizing solar and hybrid clean power
– Women in senior management: 42.4%
– Employees with disabilities: 3.2% (up from 3% last fiscal year)
– 290,438 tonnes of electronic waste collected, with a 100% recycling or refurbishing rate
– 4,500 trees planted in Ethiopia under the Green Legacy project
– Employment opportunities for women with disabilities through a partnership with Teki Paper Bags in Ethiopia.
