Safaricom has been ranked seventh on the Fortune Change the World List for its impact on public health and nutrition segment through M-Tiba. The list is built on the premise that the profit motive can inspire companies to tackle society’s unmet needs through activities that are part of their core business strategy.
Safaricom impressed the panellists due to its Mpesa service that lets users send and receive money digitally via feature phones. More than half of the Mpesa users lack bank accounts.
In addition, Fortune says that the telco is now aiming for a similar inclusion revolution in healthcare. In 2015, Safaricom and startup CarePay launched M-Tiba, which offers phone-based billing, payments, and insurance claims and helps users save for expenses. M-Tiba now reaches 4.7 million people in Africa.
On the top ten list includes
- The Vaccine Makers
- Regeneron Pharmaceuticals
- Serum Institute of India
The methodology for choosing companies to the Change the World List entails assessing factors such as; measurable social impact, business results, degree of innovation, and corporate integration.