This archive report was first published on 23 August 2019.
Published on August 23, 2019, Safaricom's 2019 Sustainable Business Report revealed that the company supported 979,000 jobs, a significant increase from 897,372 in 2018.
According to the report, Safaricom's contribution to the economy grew by 11 percent, reaching Kshs 601 billion, which is 9.6 times the profit earned in the previous financial year that ended on March 31, 2019.
The company's Chief Corporate Affairs Officer, Stephen Chege, stated, 'Our business continues to contribute towards successfully improving the quality of life for Kenyans across the country, creating sustainable livelihoods and delivering a wide range of products, services, and initiatives that support businesses, and families.'
Under the leadership of Chairman Nicholas Nganga, Safaricom has focused on reducing inequalities, as envisioned by Sustainable Development Goal 10. The company's efforts have led to a significant increase in social externalities, including M-Pesa, jobs, and social investments, which grew by Ksh200 billion.
As a result of its commitment to sustainability, Safaricom has also increased its expenditure on goods and services, from Kshs1.9 billion to Ksh 2.4 billion, with a focus on growing the number of women-owned women-led businesses within the company's supply chain.
The Nairobi Securities Exchange-listed company made a net profit of Sh62.5billion and a 7.1 percent growth in total revenue, reaching Sh250.96 billion.
