2019 Sustainable Business Report

SAFARICOM SUSTAINABLE BUSINESS REPORT 2019 INTRODUCTION OUR BUSINESS OUR MATERIAL TOPICS STAKEHOLDER ENGAGEMENT CONCLUDING REMARKS 74 OUR REGULATORS NURTURING A SYMBIOTIC RELATIONSHIP WITH REGULATORS We continue to build and maintain cordial relationships with regulatory bodies and policy makers. Our engagements are regular, transparent and mutually beneficial, as we endeavour to uphold the highest standards of compliance to our license obligations and engage our regulators on challenges unique to the telecommunications industry. We continue to uphold the highest levels of compliance to our licence obligations while conducting our business in an ethical manner. We have developed our regulatory universe to help us improve compliance monitoring. Our principal regulator remains the Communications Authority of Kenya, and in total we engage with eight regulatory bodies: Regulator Mandate Issues on which we engage Communications Authority of Kenya The regulatory authority for the ICT sector in Kenya, including broadcasting, multimedia, telecommunications, electronic commerce, postal and courier services. • Licensing • Spectrum management • Consumer affairs • Quality of service (QoS) and Experience • KYC regulations • Universal service fund (USF) • Interconnect Competition Authority of Kenya Enforces the Competition Act, No. 12 of 2010, to promote competition for the benefit of consumers, businesses and the economy as a whole. • Competition and trade practices • Consumer affairs • Mergers and acquisitions Central Bank of Kenya Formulates monetary policy to maintain price stability; promotes financial stability; oversees payments, clearing and settlements system; foreign exchange policies and reserves; issues currency; is banker and fiscal agent of Government. • Mobile money transfer services (M-PESA) • International money transfer services. Kenya Revenue Authority Responsible for the efficient assessment and collection of revenue (taxes) on behalf of the Government. • Taxation National Environment Management Authority Ensures the natural resources and environment of Kenya are managed in a sustainable manner. • Environmental impact assessments and audits • E-waste management • Energy management regulations • Air quality regulations Betting Control and Licensing Board Promotes reasonable, legal and sustainable gaming activities in Kenya and authorises gambling, lotteries and prize competitions. • Safaricom product and service promotions Kenya Civil Aviation Authority Responsible for the safety and management of Kenyan airspace. • Site acquisition • Approval of proposed base transceiver stations Capital Markets Authority Protects the interests of investors and publicly-listed companies through licensing and supervising the capital markets industry. • Corporate governance