Safaricom - 2021 Sustainable Business Report

16 SAFARICOM SUSTAINABLE BUSINESS REPORT 2021 //// STANDING TOGETHER: GOING BEYOND / OUR MATERIAL TOPICS / OUR STAKEHOLDERS / KPI SUMMARY OUR BUSINESS STRATEGY UNPACKING THE TRANSFORMATIVE PILLARS OF OUR CORPORATE STRATEGY Strengthen the core: To strengthen the core, we are expanding our existing data and voice product portfolio and managing the decline of traditional telco core revenue. We are also personalising offers for our customers and finding new use cases for existing products under voice and data. To be a financial services provider: Under this pillar our objective is to expand and digitise select areas such as health and agriculture. We are expanding M-PESA into a global payment platform, going beyond borders through M-PESA Africa and expanding into new areas under financial services such as wealth creation and insurance. Win in select digital ecosystems: We will promote further socio-economic inclusion by expanding and digitising select areas including agriculture and healthcare. Achieve cost leadership: We will drive economies of scale to offer our 39.9 million customers value for money across all products and services. We continue with our cost optimisation journey to fuel new growth areas through smart procurement, digitisation and operating model transformation. OUR CORPORATE STRATEGY We rolled out our new corporate strategy in October 2020 which will unlock our next phase of growth and support our transition from a telco to a purpose-led technology company by 2025. STRENGTHEN THE CORE DATA & ANALYTICS Foundation Enablers Transformative pillars Transformation goal Vision Purpose NETWORK & IT M&A AND PARTNERSHIPS TO BE A FINANCIAL SERVICES PROVIDER TO BE A PURPOSE-LED TECHNOLOGY COMPANY PEOPLE AND ORGANISATION A DIGITAL-FIRST, INSIGHTS-LED ORGANISATION THAT ENABLES PLATFORMS AND ECOSYSTEM PARTNERSHIPS DEEPEN CUSTOMER ENGAGEMENT & EXPERIENCE WIN IN SELECT DIGITAL ECOSYSTEMS ACHIEVE COST LEADERSHIP TRANSFORMING LIVES