This archive report was first published on 26 August 2019.
As we navigate the complexities of our modern world, it is imperative that businesses recognize their interconnectedness with the communities they serve. This is a notion that resonates deeply with former South African President Nelson Mandela, who once said, 'As long as poverty, injustice and gross inequality persist in our world, none of us can truly rest.'
Unfortunately, these three iniquities continue to plague our society. While the Kenya Economic Update indicates a significant decline in poverty rates from 43.6 percent in 2005/2006 to 35.6 percent in 2015/2016, the World Bank notes that poverty is unlikely to be eradicated by 2030.
At Safaricom, we have taken a proactive approach to addressing these inequalities through our Sustainable Business Report. This year, we focused on reducing inequalities, guided by the United Nations Sustainable Development Goals. By doing so, we aim to create sustainable livelihoods and support businesses and families through our operations.
Our world today faces a myriad of challenges, from human rights violations and extreme poverty to poor governance and climate change. According to Oxfam International, since the 2007/2008 Global Financial Crisis, the number of billionaires has almost doubled, with a new billionaire created every two days between 2017 and 2018. However, we still have almost half of humanity living in extreme poverty.
It is time for businesses to evolve and recognize that their success is intertwined with the growth of the communities they serve. We have the capacity to make things better and transform lives. By joining the conversation and acting towards reducing inequalities and promoting the Sustainable Development Goals agenda, we can drive positive change and reduce or end the number of people living in extreme poverty.
