Safaricom has reaffirmed its dominant role in Kenya’s socio-economic landscape, injecting Sh983 billion into the economy while supporting over 1.28 million jobs in the last financial year.
This substantial contribution was revealed in the telco’s 13th Sustainable Business Report, which also underscored its bold shift towards becoming Africa’s leading purpose-led technology company by 2030.
Through its operations, Safaricom contributed Sh562.2 billion, while M-Pesa, its revolutionary mobile money service, added another Sh348 billion to the economy.
The far-reaching impact of M-Pesa continues to reshape lives by benefiting customers, agents, and dealers alike.
Safaricom’s commitment to societal change is further illustrated by its foundations, Safaricom and M-Pesa, which have together impacted over 8 million Kenyans.
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The report also highlighted strides towards gender equality, with women now making up 42.4 per cent of the company’s leadership team.
Safaricom CEO Peter Ndegwa reflected on the company’s evolving role in the modern business landscape.
"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 on technology as we prepare to transition to a TechCo by 2030," Ndegwa stated.
"This will grant us new opportunities to meet the evolving needs of our communities, improving customer experience and maintaining environmental stewardship.”
The launch of the report coincided with the company’s 24th anniversary, a milestone marking two decades of transformative growth since its founding in October 2000.
In 2012, Safaricom became one of the early champions of sustainability by incorporating ESG principles into its strategy.
As Ndegwa put it, “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.”
Safaricom’s initiatives, underpinned by 9 of the 17 United Nations Sustainable Development Goals (SDGs), have had a far-reaching impact across Kenya.
These efforts include various community-driven projects, significant climate action initiatives such as tree planting and clean energy solutions, and a focus on fostering a circular economy.
The company has also maintained a 50 per cent gender parity within its workforce.
Since expanding into Ethiopia, Safaricom has connected 38 per cent of the population, garnering 4.5 million customers in the process.
Its Ethiopian operations are also aligned with its sustainability agenda, with 84 solar-powered sites and 1,052 sites connected to renewable energy sources.
Female representation in senior leadership roles within the Ethiopian branch has reached 23 per cent, reflecting Safaricom’s broader commitment to gender diversity
Adil Khawaja, Chairman of Safaricom PLC, elaborated on the company’s regional impact:
"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," Adil stated.
"We have embraced the SDGs as a means of driving innovation, lowering costs through clean energy, and building partnerships to realise our ambitions.”
To bolster its sustainability efforts, Safaricom secured a Sh15 billion Sustainability-Linked Loan (SLL) from a consortium of financial institutions, including Standard Chartered Bank, KCB, Stanbic Bank, and Absa Bank.
These funds will support critical initiatives aimed at achieving net-zero carbon emissions, enhancing gender diversity, and promoting social equality.
Among Safaricom’s key achievements in the past year is the provision of access to the Hustler Fund and Women Enterprise Fund for 22 million Kenyans, ensuring financial inclusion for the underserved.
The company has also expanded its 5G infrastructure to 43 of Kenya’s 47 counties, strengthening the nation’s digital connectivity. In addition, over 1,400 Safaricom sites are now powered by solar and hybrid clean energy, reducing the company’s carbon footprint.
Internally, Safaricom’s workforce has become more inclusive, with employees with disabilities accounting for 3.2 per cent of its total staff, an increase from 3 per cent in the previous financial year.
On the environmental front, the company collected 290 tonnes of electronic waste, ensuring a 100 per cent recycling or refurbishing rate.
Safaricom also participated in Ethiopia’s Green Legacy project, planting 4,500 trees as part of its contribution to environmental conservation.
Furthermore, the company’s commitment to social inclusion in Ethiopia is evident through its partnership with Teki Paper Bags, a social enterprise that employs women with disabilities, providing them with economic empowerment and meaningful work.
Safaricom’s forward-thinking strategies and unwavering focus on sustainability ensure that it remains a powerful force for positive change, both in Kenya and the wider East African region.
As it transitions into a purpose-led technology company, Safaricom’s influence on economic empowerment, environmental conservation, and social inclusion is set to grow even further.
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