2022 Sustainable Business Report

37 PARTNERING FOR GROWTH: TRANSFORMING LIVES | KPI SUMMARY OUR STAKEHOLDERS OUR BUSINESS OUR MATERIAL TOPICS GOVERNANCE, BUSINESS ETHICS & RISK Recognising that sustained, inclusive economic growth (SDG8) can only take place within the context of effective, accountable, and inclusive institutions at all levels (SDG16); we have long- established partnerships (SDG17) with the broader business community and various regulatory authorities. OUR HIGHLIGHTS • Compliance with the Communication Authority’s (CA’s) initiatives including: - Subscriber registration whereby we launched an online registration portal shortly after year-end. - Know Your Customer (KYC) which enables us to know and understand our customers and their financial dealings to serve them better and help them to manage their risks prudently. • Launch of *106#, a service created to enable customers to confirm the phone numbers registered under their identify documents. • 82% fraud detected and prevented either as an info-icon or as a bullet point • Collaboration with financial institutions: - Quarterly engagements with banks since 2018, with saccos since 2021 - Updates on Fraud Trends across the industry - Joint development and implementaion of Mobile money fraud controls - More banks are connecting to the umbrella B2C fraud management tool for better protection for mobile banking service - Increased fraud awareness Please refer to the ‘Our Governance’ section of the 2022 Safaricom Annual Report at https://www.safaricom.co.ke/investor-relation/financials/reports/annual reports for more information regarding our governance structures and reporting processes. BOARD COMPOSITION Executive Director / CEO 1 Company Secretary Independent Non-executive Directors* 1 2 Non-executive Directors 9 MAINTAINING A ROBUST GOVERNANCE FRAMEWORK The cornerstones of our governance structure are the Governance Charter and our Board of Directors which is accountable to all stakeholders. To monitor adherence to governance procedures, members of our Board meet at least four times a year and undertake collective and individual performance assessments at least once annually. The Safaricom Board comprises 11 Board members, reflecting a 36% female and 64% male split. Male Female 36% 64% * Not included in the gender diversity calculation for board composition