Safaricom, a renowned telecommunications service provider in Kenya, has revealed that it played a pivotal role in sustaining more than 1.2 million jobs and contributed a substantial Ksh.909.5 billion to the Kenyan economy during the past financial year during its 12th Sustainable Business Report . This remarkable contribution surpassed its financial profits for the year by a staggering factor of 15.
Safaricom attributed this substantial economic impact to the value it created for its customers, agents, and merchants through its mobile money service, M-PESA, as well as the growth in economic influence stemming from Safaricom’s capital and operational expenditures during the period under review.
Safaricom PLC CEO Peter Ndegwa, emphasized the importance of sustainability reporting, stating, “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.”
Speaking at the event, the Executive Director of the Alliance for Science Dr. Sheila Ochugboju, commended Safaricom for its forward-looking approach to data and technology. She highlighted the role of science as the foundation for technology and innovation, emphasizing the need for vision, ambition, and courage in leveraging technology to address global challenges as seen in a report by Citizen Digital.
“I want to commend Safaricom for embedding meaning into the words of sustainability and integrating this within business practices. They have linked it clearly to a narrative of global challenges and invited partners like ourselves and others to recognize that technology is a crucial part of the solution to create a better future,’’ Dr. Ochugboju stated.
Mr. Adil Khawaja, Chairperson of the Safaricom Board, expressed pride in Safaricom’s role as a catalyst for positive change, not only in Kenya but also in Ethiopia and beyond. He reaffirmed Safaricom’s commitment to innovation, adaptation, and diligent work to continue connecting millions to financial services, empowering communities, and driving economic growth.
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Safaricom’s economic contribution and commitment to sustainability points out its significance as a driving force in Kenya’s telecommunications and economic landscape, paving the way for continued positive impact in the region and globally.