Safaricom PLC, Kenya’s largest telco, said its total impact on the economy and society measured as “True Value” reached Kshs.1.1 trillion ($8.3 billion) in the year to March, boosted by M-PESA’s growth, higher capital spending, and wider corporate social investment. The company said its operations contributed Kshs.809 billion directly to Kenya’s GDP.
Smartphone usage on its network rose to 27.37 million, up from 22.93 million the previous year, with ownership increasing to 50% of its customer base, partly due to the Lipa Mdogo Mdogo installment plan. Mobile data revenue grew 15.2% as customers consumed more per user, helped by AI-driven personalization.
“We have evolved into a purpose-led technology company guided by one simple mission: to transform lives,” Chief Executive Officer Peter Ndegwa said in the firm’s 14th Sustainable Business Report, published Monday.
Themed “Anchored on Purpose, Accelerating a Digital Future,” the report highlights Safaricom’s role in expanding digital and financial inclusion across East Africa. M-PESA, its mobile money service, disbursed Kshs.945 million in smallholder farm loans through Digifarm, with women accounting for 36% of borrowers.
Environmental goals included planting 830,000 trees and restoring 694 hectares across eight counties, fencing 15 kilometers of Kakamega Forest, and recycling 99% of waste including 190 tons of e-waste. Cumulatively, Safaricom has grown 2.3 million trees toward a 2030 target of 5 million.
Governance initiatives included achieving ISO 27701 certification for privacy management and using AI to cut fraud by 87%. Its anti-money-laundering systems also flagged poaching-linked transactions, leading to 14 arrests.
Safaricom, 35% owned by Vodafone Group Plc and 35% by South Africa’s Vodacom Group Ltd., has more than 43 million subscribers in Kenya and is expanding into Ethiopia, a market of 120 million people.
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