According to a new report, Safaricom contributed Kes 909.5 billion into the Kenyan economy in the last financial year that ended in March 2023.
Safaricom’s 12th Sustainable Business Report also sustained over 1.2 million jobs (236,674 direct and 1.2 million indirect).
According to the report, Kes's $ 909.5 billion contribution was approximately 15 times greater than its financial profit for the last period.
The overall contribution is attributed to a 17 percent growth in customers, agents, and merchants through M-Pesa.
Another is the economic growth from capital and operational expenditures.
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Safaricom PLC CEO Peter Ndegwa stated that sustainability reporting is a corporate responsibility and an essential pillar of the telco’s business strategy.
“Being accountable on Environmental, Social, and Governance (ESG) ensures that we remain committed to our core–Transforming Lives,” he said.
In addition, the report notes that women make up 40% of senior management and 45% of the board of directors of Safaricom.
Similarly. 5.92 percent of all purchases made by Safaricom were made by marginalized groups, including women, young people, and people with disabilities (PWDs).
The telco has successfully gathered and recycled 1,758 metric tonnes of e-waste, even though three percent of its workers are people with disabilities.
Safaricom continued by saying it is currently establishing environmental, social, and governance (ESG) structures and policies in Ethiopian businesses, which would be reported beginning with the following report.
“We are proud to be a catalyst for positive change in Kenya, Ethiopia, and the rest of the world,” Adil Khawaja, Chairperson of the Safaricom Board, said.
