Our commitment is demonstrated by a top-down approach, with the Board taking overall responsibility for managing risk. Appropriate support towards risk management ensures a positive risk culture across the organisation
We operate a mature risk management framework that is aligned with the ISO 31000 International Risk Management Standard. This ensures our strategic and operational risks are identified, managed, assured and reported in a consistent way. It is an evolving framework as we continually seek to improve and enhance our risk management processes and designed to be responsive to the everchanging environments in which we operate.
The framework provides management with a clear line of sight to enable informed, risk based decision-making.
We continuously review the risk management framework, which provides the foundation and arrangements for identifying, treating, reporting, monitoring, reviewing and continually improving risk management throughout the organisation.
We classify our risks into the following categories:
Safaricom recognises that risk is an integral part of creating value, as such we have developed processes to ensure all major risks are proactively managed. We will ensure that our customers get quality and reliable products and services by employing best practices across all touch points. We hold our management team, employees and business partners to the highest standards of integrity and will constantly ensure principles of good corporate governance are upheld.
Our risk identification and mitigation processes have been designed to be responsive to the ever-changing environment that we operate in.
We identify the key risks through our Enterprise Risk Management Framework, which provides the Executive Committee and Board with a robust assessment of the principal risks facing the Company. An embedded enterprise risk management process supports the identification of these principal risks. The risk appetite for each principal risk is reviewed and approved by the Board to enable informed risk-based decision-making.