Safaricom has cemented its role as a key player in Kenya’s economic development, contributing KES 983 billion to the economy in the past financial year.
This milestone, which includes KES 722 billion in economic value and sustained employment for over 1.28 million people, was unveiled in the company’s 13th Sustainable Business Report.
Themed “Accelerating Digital Inclusion,” the report highlights the telco’s efforts to shape the future through sustainable practices as it marks 24 years of transforming Kenyan lives.
According to the report, Safaricom’s direct operations generated KES 562.2 billion in economic value, while its flagship mobile money service, M-PESA, created KES 348 billion in social value by benefiting customers, agents, and dealers.
The positive societal impact extends beyond financial value, with over 8 million Kenyans positively affected by community projects through the Safaricom and M-PESA Foundations.
The company has also seen significant progress in gender diversity, with women now occupying 42.4% of leadership positions, further strengthening its commitment to inclusion.
As the company looks ahead to becoming Africa’s leading purpose-led technology company by 2030, CEO Peter Ndegwa emphasized Safaricom’s adoption of Environmental, Social, and Governance (ESG) principles to drive change.
“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. This will grant us new opportunities to meet the evolving needs of our communities, improving customer experience and maintaining environmental stewardship,” said Peter Ndegwa, CEO, Safaricom.
Safaricom, founded on October 23, 2000, has long been a pioneer in sustainability, releasing its first sustainability report in 2012. Over the years, its integration of 9 out of 17 Sustainable Development Goals (SDGs) has empowered millions, promoted climate action, and fostered a circular economy.
Safaricom’s recent ventures into Ethiopia highlight its regional growth ambitions. With 4.5 million customers in Ethiopia and 38% of the population connected, the company is building a strong presence. Safaricom’s commitment to sustainability is also evident in Ethiopia, where 84 of its sites are solar-powered, and 23% of senior leadership roles are held by women.
Adil Khawaja, Chairman of Safaricom PLC, remarked, “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. We have embraced the SDGs as a means of driving innovation, lowering costs through clean energy and building partnerships to realise our ambitions,” said Adil Khawaja, Chairman, Safaricom PLC.
Key initiatives in the past year have further demonstrated Safaricom’s commitment to sustainability. The company secured a KES 15 billion Sustainability Linked Loan (SLL) from major banks, earmarked for achieving net-zero carbon emissions, promoting gender diversity, and fostering social equality.
Some additional highlights from the report include:
- Over 22 million Kenyans accessing affordable financing through the Hustler Fund and Women Enterprise Fund.
- 5G infrastructure now spanning 43 out of Kenya’s 47 counties.
- Over 1,400 sites running on solar and hybrid clean power sources.
- A workforce achieving 50% gender parity, with 3.2% of employees identifying as having disabilities.
Safaricom’s ambitious environmental efforts also include collecting 290,438 tonnes of electronic waste, achieving a 100% recycling or refurbishment rate.
As Safaricom celebrates its 24th anniversary, the company’s focus remains on deepening its impact through innovation, sustainability, and inclusion. With a clear roadmap to becoming a technology company by 2030, Safaricom is well-positioned to drive further economic growth, digital inclusion, and environmental stewardship across Africa.