Safaricom sustained over 1.2 million jobs (236,674 direct and 1,159,309 indirect) and contributed Sh909.5 billion into the Kenyan economy in the past financial year.
According to the telco’s 12th Sustainable Business Report, the Sh909.5 billion added to the Kenyan economy was approximately 15 times greater than the financial profit made during the year.
This is attributed to the value created for customers, agents, and merchants through M-PESA (17 per cent increase from 2022), as well as the growth in economic impact created through Safaricom’s capital and operational expenditures during the period under review, shows the report titled ‘Pathway to a Purpose-Led Technology Company.’
“Sustainability reporting is not just a corporate responsibility but an essential pillar of our business strategy. Being accountable on Environmental, Social and Governance (ESG) ensures that we remain committed to our core–Transforming Lives,” said Peter Ndegwa, CEO, Safaricom PLC.
The company is currently setting up ESG structures and policies in the Ethiopia business and will from the next report, highlight Safaricom Group’s sustainability efforts and milestones.
To further support its ESG ambition, Safaricom recently secured a Sh15 billion Sustainability Linked loan (SLL) with a consortium of banks including Standard Charted Bank, Kenya Commercial Bank (KCB), Stanbic Bank and Absa Bank which will finance key areas of net zero carbon emissions, tracking gender diversity and establishing social equality.
Report Shows Safaricom’s 2020 Impact on Society Valued at Ksh 664 Billion – Kenyan Wallstreet
