Safaricom Celebrates 24 Years of Transformation, Contributing KES 983 Billion to Kenyan Economy

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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