Safaricom Twaweza

ANNUAL REPORT 2018

Chairman's Statement CEO's Statement Taarifa ya Mwenyekiti Taarifa ya Mkurugenzi Mkuu
Leadership
Who Leads Us Who Governs Us
Corporate Governance Risk Management
Enterprise Risk Management Risk Management Framework Risk Governance
M-Pesa
Our Strategic Pillars
Customer First
Person To Person Reversals My Safaricom App Jitambulishe - Leveraging Voice Biometrics To-Boost Security
Relevant Products
Partnering To Deliver Video Content Safaricom Digital TV and Internet Box Fixed Data – Fibre to the Home (FTTH) Songa Music App Safaricom QR Code Safaricom Platinum – For the Discerning Professional How we Enhanced M-PESA For Visually Impaired Customers Relevant Products and Services
Operational Excellence
Daraja our bridge to M-PESA’s future Safaricom introduces 4G+ Ookla M-PESA certification
Our Brand Assets
Safaricom marks 5 years in Deaf Half Marathon sponsorship Breaking the two-hour marathon barrier Safaricom Athletics Series The Safaricom Marathon in Lewa SOYA Chapa Dimba SKIZA Safaricom International Jazz Festival Turned Five
Our People
Revamping our culture
Our Social Impact
The M-PESA Foundation: Large Scale Programmes Partnering with Communities: Our Foundations
Our Sustainable Future
Focus on Our Four Material Matters Integrating the Sustainable Development Goals: Our nine priorities Sustainability at Safaricom
Our Technology
Women In Technology Leaving No One Behind Maintaining our lead with the best technology Digital transformation
Our Enterprise
The digital farmer of the future, today Fibre to the Business (FTTB) M-PESA for Businesses MASOKO M-TIBA Shupavu 291

Corporate Governance

Introduction

We remain committed to the highest standards of corporate governance and business ethics. Good corporate governance practices are essential to the delivery of long term and sustainable stakeholder and shareholder value.

The company continues to adhere to its obligations as a public listed entity in Kenya in compliance with the Capital Markets Authority (CMA) Code of Corporate Governance Practices for Issuers of Securities to the Public, 2015, In this regard, the Company undertook a review of its level of compliance as at 31 July 2017, with the provisions of the CMA Code of Corporate Governance for Issuers of Securities to the Public, 2015 and submitted its report to the CMA for review.
The company also adheres to other regulations promulgated by the CMA and the Nairobi Securities Exchange and the ethical standards prescribed in the Company Code of Conduct. In addition, Safaricom abides by the tenets of the Constitution of Kenya and all other laws as a law-abiding corporate citizen.

We believe that good corporate governance is critical, not only at the corporate level but also at the national level. We require our partners to adhere to the highest level of integrity and business ethics in their dealings with us or with other entities. In the financial year under review, we continued to achieve high levels of corporate governance by focusing on the following areas:

  • Continuing to implement our strategy for the long-term prosperity of the business
  • Timely and relevant disclosures and financial reporting to our shareholders and other stakeholders for a clear understanding of our business operations and performance
  • Ensuring execution of strong audit procedures, audit independence and continuously enforcing strong
    internationally recognised accounting principles
  • Focus on clearly defined board and management duties and responsibilities
  • Ensuring director competencies through induction for new directors and on-going trainings for all directors
  • Focusing on compliance with relevant laws and upholding the highest