Safaricom has made a significant impact on Kenya’s economy, contributing KES 983 billion in the last financial year while supporting 1,283,329 jobs. This information was released in Safaricom’s 13th Sustainable Business Report, themed “Accelerating Digital Inclusion,” as the company continues its transition to become Africa’s leading purpose-driven technology company by 2030.
The report highlights Safaricom’s economic contributions, with KES 562.2 billion generated through its core operations and an additional KES 348 billion in social value through M-PESA, transforming lives by supporting customers, agents, and dealers. The Safaricom and M-PESA Foundations have reached over 8 million Kenyans, and the company has achieved 42.4% female representation in leadership roles.
“Safaricom is navigating rapidly evolving business and social landscapes with sustainable practices. Our Environmental, Social, and Governance (ESG) framework, anchored in technology, will be central to our journey as we transition to a TechCo by 2030. This shift offers new opportunities to serve communities, enhance customer experience, and uphold environmental responsibility,” said Peter Ndegwa, CEO of Safaricom.
The report’s release coincides with Safaricom’s 24th anniversary, marking nearly a quarter-century of commitment to sustainability since its founding on October 23, 2000. Safaricom was among the first organizations to integrate ESG into its business strategy, publishing its first sustainability report in 2012.
“Sustainability has given us a competitive advantage over the past 24 years, transforming us into more than just a telco. We’re a company that empowers communities and fosters innovation by prioritizing purpose over profit,” Ndegwa added.
Safaricom actively supports 9 of the 17 UN Sustainable Development Goals (SDGs), impacting millions of Kenyans through community initiatives, climate action through tree-planting programs, clean energy projects, and a circular economy. The company has achieved 50% gender parity across its workforce and has made strides in diversity and inclusion.
In Ethiopia, Safaricom has rapidly gained traction, reaching 4.5 million customers, with 38% of the population now connected. In its Ethiopian operations, 84 sites are solar-powered, and 1,052 are powered by renewable energy. Female representation in senior leadership in Ethiopia has reached 23%.
“As we strive to be Africa’s leading purpose-led technology company, we are committed to driving positive change for our customers and stakeholders in Kenya and Ethiopia. Embracing the SDGs allows us to foster innovation, reduce costs through clean energy, and form partnerships that advance our goals,” said Adil Khawaja, Chairman of Safaricom PLC.
Safaricom has secured an additional KES 15 billion Sustainability Linked Loan (SLL) from a consortium of banks, including Standard Chartered, KCB, Stanbic, and Absa, to fund net-zero carbon emission initiatives, gender diversity programs, and social equity projects.
Additional Key Highlights of the Report:
- 22 million Kenyans access affordable loans through Hustler Fund and Women Enterprise Fund
- 5G infrastructure established in 43 out of 47 counties
- Over 1,400 sites powered by solar and hybrid clean energy
- Women in senior management: 42.4%
- Employees with disabilities: 3.2% (up from 3% last fiscal year)
- 290 tonnes of electronic waste collected and fully recycled/refurbished
- In Ethiopia, planted 4,500 trees under the Green Legacy project
- Employment opportunities for women with disabilities in partnership with Teki Paper Bags in Ethiopia