The latest Safaricom Sustainable Business Report has revealed that the telco has contributed Ksh. 983 billion to the Kenyan economy as it sustained 1,283,329 jobs in the last financial year.
This year’s report is themed, Accelerating Digital Inclusion, and demonstrates Safaricom’s commitment to transforming lives, as the telco celebrates 24 years of operations in Kenya.
Safaricom’s economic value to society through its operations stood at Ksh. 562.2 billion while M-PESA’s social value stood at Ksh. 348 billion as the platform continues to transform lives by impacting customers, agents, and dealers. The telco has also impacted over 8 million Kenyans through the Safaricom and M-PESA Foundations and increased the percentage of women in leadership to 42.4%.
The Safaricom Sustainable Business Report, now in its 13th edition, was launched a day after the company celebrated 24 years of operation in Kenya. The company founded on October 23rd, 2000, released its first sustainability report in 2012, becoming one of the foremost organizations to embrace ESG in its business strategy.
“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 Dr. Peter Ndegwa, CEO of Safaricom.
The report further reveals that the telco incorporated 9 out of the 17 SDGs. This has enabled it to impact millions of Kenyans in community projects, carry out climate action through robust tree planting initiatives, clean energy solutions, as well as a circular economy. This is in addition to implementing diversity and inclusion where it has achieved 50% gender parity in its workforce.
Since its entry in Ethiopia, Safaricom has registered 4.5 million customers while 38% of the population has been connected. 84 of the telco’s sites in the country are solar powered while its 1,052 grid-connected sites are powered by renewable energy sources. It has also reached 23% female representation in its senior leadership in Ethiopia.
“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 realize our ambitions,” said Adil Khawaja, Chairman of Safaricom PLC.
This year, Safaricom secured another tranche of Ksh. 15 billion Sustainability Linked loan (SLL) with a consortium of banks. These include Standard Chartered 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.
Other key highlights of the report include the following.
● 22 million Kenyans are accessing affordable Hustler Fund and Women Enterprise Fund
● 5G infrastructure in 43 out of 47 counties
● More than 1,400 sites are using solar and hybrid clean power
● Increased women in senior management at 42.4%
● Employees with disabilities: 3.2%. An increasefrom3% from last FY
● 290 tonnes of electronic waste collected with 100% recycling/refurbishing rate.
● In Ethiopia, planted 4,500 trees under the Green Legacy project.
● Employment to women with disabilities by partnering with a social enterprise, Teki Paper Bags in Ethiopia.