Safaricom\u2019s 2025 Sustainable Business Report<\/a>, comes after the Nairobi Securities Exchange-listed firm wraps up its five-year transformation strategy, becoming the first company in the region to cross the $3 billion revenue threshold.<\/p>\nSafaricom expands local investment under NdegwaOut of a total spend of Ksh137.84 billion ($1.07 billion), Safaricom spent Ksh100.5 billion ($777.63 million) in Kenya. The company\u2019s activities, from infrastructure projects to its M-PESA agent network, are estimated to have supported more than 1.3 million direct and indirect jobs across the country.<\/p>\n
Under Ndegwa\u2019s watch, Safaricom has built environmental, social and governance standards into its operations, aligning its supply chain with Kenya\u2019s development agenda.\u00a0<\/p>\n
In the past year, the company spent Ksh3.2 billion ($24.77 million), or about 11 percent of its procurement budget, with businesses owned by women, youth and persons with disabilities. \u201cOur commitment to responsible business is anchored in sustainability and inclusion,\u201d Ndegwa said. \u201cWe want our growth to benefit the communities that make our business possible.\u201d<\/p>\n
Local sourcing as a driver of resilience<\/p>\n
Safaricom\u2019s Director of Sustainable Business and Social Impact, Karen Basiye, said that the local sourcing push goes beyond meeting targets. \u201cBuying locally is not just a procurement decision; it\u2019s an investment in Kenya\u2019s capacity to innovate and build economic independence,\u201d she said.<\/p>\n
Safaricom aims to cut reliance on imports, strengthen small and medium-sized businesses, and encourage innovation in manufacturing and technology by backing local suppliers. It has also added more financing programs linked to sustainability to help green infrastructure and digital inclusion projects that help communities that don’t get enough help.<\/p>\n
Safaricom’s growing role in Kenya’s digital economy<\/p>\n
Safaricom, founded in 1993 and based in Nairobi, is now a leading provider of mobile connectivity, cloud services, and financial technology through its M-PESA platform, which is used by millions of people.<\/p>\n
Under the leadership of CEO Peter Ndegwa\u2014who owns a 0.016 percent stake in the company, equivalent to 6.2 million shares\u2014Safaricom is navigating a fast-changing telecom landscape with renewed strategic focus.<\/p>\n
With more than 48 million customers, Safaricom remains one of Kenya\u2019s biggest private-sector players, contributing an estimated 5 percent of the nation\u2019s gross domestic product through its telecom, data and mobile-money services.<\/p>\n","protected":false},"excerpt":{"rendered":"Safaricom, East Africa\u2019s largest telecom operator, led by Kenyan tycoon Peter Ndegwa, has disclosed that it invested $777.6…\n","protected":false},"author":2,"featured_media":67210,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-67209","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/67209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=67209"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/67209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/67210"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=67209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=67209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=67209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}