Safaricom, the leading telecommunications company in East Africa, marked its 24th anniversary by highlighting its significant contribution to the Kenyan economy. The company’s 13th Sustainable Business Report reveals a KES 983 billion economic impact, supporting over 1.28 million jobs in the last financial year.
Key Highlights:
- Economic Powerhouse: Safaricom’s operations generated KES 562.2 billion in economic value, while M-PESA, the world’s leading mobile money platform, contributed KES 348 billion in social value.
- Social Impact: Over 8 million Kenyans have benefited from initiatives by the Safaricom and M-PESA Foundations.
- Diversity and Inclusion Champion: The company boasts 42.4% women in leadership and 50% gender parity in its workforce.
- Sustainability Leader: Incorporated 9 of the UN Sustainable Development Goals (SDGs) into its strategy, focusing on community projects, climate action, and a circular economy.
- Ethiopian Expansion: Registered 4.5 million customers in Ethiopia, with 38% of the population connected.
- Clean Energy Focus: 84% of Safaricom’s Ethiopian sites run on solar power, and renewable energy sources power grid-connected locations.
- Financial Inclusion Driver: 22 million Kenyans access affordable loans through the Hustler Fund and Women Enterprise Fund initiatives.
- Technological Advancement: 5G infrastructure deployed in 43 out of 47 Kenyan counties.
- Sustainability Commitment: Secured a KES 15 billion Sustainability Linked Loan to support net-zero carbon goals and social equality initiatives.
Safaricom aims to become Africa’s leading purpose-driven technology company by 2030. This transition will focus on innovation, environmental stewardship, and positive social impact in Kenya and Ethiopia.
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