Safaricom engages stakeholders on journey to become a purpose-led technology company by 2025

Safaricom PLC, Kenya’s telecommunication giant has held its first-ever Safaricom Invest Day Forum to update stakeholders on its journey to become a purpose-led technology company by 2025.

The forum which was attended by the investor community, analysts and regulatory bodies, representatives from the Nairobi Securities Exchange (NSE) and the Capital Markets Authority (CMA) both in-person and virtual was held on the theme: “Driving Purpose-Led Growth”.

Delivering his opening address the Chief Executive Officer of Safaricom, Peter Ndegwa reiterated Safaricom's commitment to driving purpose-led growth, which means transforming lives through innovation and technology for a better society.

He said, “ We are excited to host our first-ever investor day, which is an important platform for us to engage with our stakeholders, including investors and analysts, to drive a deeper understanding of our strategy, operating model, execution plans, and our vision as we strive to fully transform into a technology company in 2025."

“We believe that our commitment to purpose-led growth will not only create long-term value for our stakeholders but also good for our customers and the communities we serve. As we delve deeper into our purpose commitments and our journey to date, we affirmed our belief in meeting our target," he noted.

Safaricom Telecommunication Ethiopia PLC CEO, Anwar Soussa in his remarks shared insights on the opportunities for the company’s growth in Ethiopia, leveraging on innovation and its quality of services, including internet connectivity.

 “With a population of approximately 120 million people and financial inclusion at about 35%, 57% mobile penetration and annual inward remittance of about $4.2 billion, Ethiopian offers a great opportunity to grow the business to the Keny level in 10 years”, he stated.

“ Our growth trajectory is even more exciting for us as we look forward to offering financial services through M-PESA. We are finalizing our commercial and technical readiness and we expect to launch operations within the upcoming financial year,” Mr. Soussa added.

During the forum, Safaricom executives briefed the audience on its vision and strategic opportunities around its key business areas including sustainable business and social impact, financial services, big data, technology, and enterprise business opportunities for both private and public sectors. Investors were also taken through a detailed progress update of Safaricom Ethiopia.