Against the backdrop of a rapidly evolving regulatory landscape, which included changes in taxation and mobile termination rates (MTR) in Kenya, we fully embraced the growing needs of our various stakeholders across both Kenya and Ethiopia. It is pleasing to see our contribution to social and economic development in both countries so meaningfully continuing.

For more on the environment in which we operate, click here.

Like all members of the Board, I am extremely proud of Safaricom’s purpose of transforming lives. It is gratifying to note that the organisation has continued to be actively involved in supporting the communities among which we operate. This was exemplified during the year by the support we have offered to those people who have been affected by the recent floods.

I would also like to acknowledge the good work that both the M-PESA and Safaricom Foundations have done in Kenya during the year under review. I look forward to seeing Board members continuing to participate and join staff in activities that assist our communities.

For more on our corporate social investment, click here.

It gives me great pleasure to report that the Board has proposed a final dividend of KShs 0.65 per ordinary share – amounting to KShs 24.84 billion – to be approved at the Annual General Meeting (AGM). This is in addition to the interim dividend of KShs 0.55 per ordinary share that was already declared and paid during the year.

For more on our financial performance, click here, and refer to the Annual Financial Statements section of this report.

I would like to emphasise the immense significance we place on the relationships that we have with our various stakeholders. We understand the added value that collaboration with committed and able partners brings.

That is why, as a Board, we continued during the year, to engage with all our stakeholders. We unwavering in ensuring that our strategy, vision, and purpose reflect and meet the needs and expectations of the individuals, communities and other stakeholders who are impacted by what we do as a business.

During the year under review, we also maintained our programme of constructive engagements with policymakers. In that regard, we remain committed to collaborating with government, regulatory bodies, and all our stakeholders to drive positive change and promote sustainable growth.

I would therefore like to express the Board’s sincere gratitude to both the Kenyan and Ethiopian governments for their steadfast support. There is no doubt that the alignment of our strategy with the national visions of the two countries was a crucial ingredient in our impressive results this year.

The Board appreciates the commitment of the governments of both Kenya and Ethiopia, to creating an environment that fosters growth and innovation in the telecommunications sector. Indeed, the support extended by both governments has played a pivotal role in enabling Safaricom to carry out its role in society effectively and efficiently.

For more on our engagements with our stakeholders, click here.

I would like to extend my appreciation to my fellow Board members for their continued strategic guidance. Their insights and effective and knowledgeable leadership have been instrumental in steering Safaricom.

For more on our governance, click here.

In the short, medium and long term, I anticipate that Safaricom will continue to go from strength to strength, as we implement and realise our strategic vision, and bring cutting edge technology to the lives of the people and communities we serve. We will continue to bolster the economies in which our endeavours play an increasingly important societal and financial role.

Safaricom’s journey over the past financial year reflects resilience, innovation, and a deep commitment to our purpose. I am certain that as we expand our footprint into Ethiopia and continue to lead in Kenya, we will drive positive change and create value for our company, customers, and the communities among whom we operate.

It is my sincere conviction that we will continue to nurture a harmonised business environment by working together with all our stakeholders to ensure our sustained success.

On behalf of the Board, in addition to our sincere appreciation of the support of the governments, regulators and indeed all our stakeholders, I would also like to commend our management team and all the people who work at Safaricom for their exceptional dedication diligence, commitment and loyalty. It is their very capable hard work which has translated into the impressive numbers we are reporting.

Adil Arshed Khawaja (MGH)
Chairman