Safaricom recently hosted its inaugural investors forum where investors & other stakeholders engaged with senior leadership of the company, and its subsidiary, Safaricom Ethiopia. The forum was hosted to update stakeholders on the company’s operations & impact.
The hybrid investor day was themed Driving Purpose-Led Growth and brought together investors, analysts and regulatory bodies, including representation from the Nairobi Securities Exchange (NSE) and the Capital Markets Authority (CMA).
During the forum, Safaricom executives briefed attendees on the company’s vision and strategic opportunities around its key business areas. They were also taken though a detailed progress update of Safaricom Ethiopia.
There were also experiential demos that showcased different products across all the business segments. The event also provided an opportunity to the investors to engage with the senior leadership teams for both Kenya and Ethiopia through speed networking sessions.
Speaking at the event, Safaricom CEO Peter Ndegwa said, “We are excited to host our first-ever investors day, which is an important platform for us to engage with our stakeholders, including investors and analysts, to drive a deeper understanding of our strategy, operating model, execution plans and our vision as we strive to fully transform into a technology company by 2025. At Safaricom, we are committed to driving purpose-led growth, which means transforming lives through innovation and technology for a better society.”
Safaricom Telecommunications Ethiopia PLC CEO, Anwar Soussa, shared insights on the opportunities for the company’s growth in Ethiopia. He shared that as of February 2023, Safaricom Telecommunications Ethiopia PLC had penetrated around 10% of the population translating to over 11 million people. It had 847 network sites in 25 cities, had onboarded 28,000 retailers, 103 distributor shops and 5,000 acquisition agents. The company had also crossed the 2 million mark in customer gross adds. Additionally, voice and data usage had averaged 64 minutes and 1.9 GB respectively per customer in a month.
The Safaricom investor forum is part of the company’s efforts to engage with its business partners and stakeholders about its operations, strategies, and impact.