Safaricom 2023 Sustainable Business Report

9 OUR STAKEHOLDERS KPI SUMMARY OUR MATERIAL TOPICS OUR BUSINESS PATHWAY TO A PURPOSE-LED TECHNOLOGY COMPANY • Lowering barriers to entry, enabling the development of new business models and implementing platforms for collaboration and knowledge sharing, thereby stimulating economic growth, innovation and entrepreneurship. • Improving service delivery by enabling efficient and transparent government processes, healthcare and education systems, together with public infrastructure, for enhanced social outcomes and better governance. It is crucial to ensure that digital solutions are accessible, affordable, and inclusive, focusing on digital literacy, infrastructure development and regulatory frameworks that support innovation and protect users’ rights to truly, transform lives. REALISING OUR PURPOSE The theme ‘pathway to a purpose-led technology company’ aligns with our purpose of Transforming Lives and reaffirms our commitment to continue leveraging technology and our platforms to connect people to people, people to opportunities and people to information. Our strong partnership ecosystem, high levels of connectivity and technology, as well as our innovative products and services, help us to address societal challenges, create and strengthen business opportunities, thereby driving inclusive economic development. DRIVING GROWTH Safaricom’s strategic focus on being a customer-obsessed, digital- first purpose-led organisation has driven our growth. We have created products, services and experiences that resonate with our over 43.75 million customers. Understanding and meeting customer expectations and evolving needs are crucial for building customer loyalty, attracting new customers and driving revenue growth. HELPING TO REALISE ETHIOPIA’S DIGITAL POTENTIAL Safaricom’s expansion into Ethiopia is a positive step towards enabling the country to realise its digital potential and leverage technology for a more prosperous society. The expansion signifies our commitment to grow beyond Kenya, expand our services and contribute to developing Ethiopia’s telecommunications and digital infrastructure. The recent award of the M-PESA licence in Ethiopia is a significant milestone. Although our roll-out in Ethiopia faced initial security concerns, skills and infrastructure obstacles, we are well-positioned to increase our momentum. We are confident that we will deliver value as we grow the Ethiopia business. The country remains a key part of our strategy to accelerate new growth areas, drive digital connectivity and financial inclusion. COLLABORATING TO DELIVER SHARED VALUE To address social and environmental issues, partnerships continue to play a pivotal role in how we deliver shared value. We will continue to partner with like-minded public and private organisations to implement initiatives that positively impact Kenyans. Collaborations of this nature leverage the strengths of different sectors to address complex challenges, drive innovation and foster economic growth which in turn benefits citizens through job creation and improved lifestyles. We are committed to working with Government, regulators and other stakeholders to strengthen regulation in key sector issues such as mobile money, data privacy and spectrum. Moving forward, Safaricom will continue to scale partnerships in areas such as health, agriculture, education, financial technology, digital payment solutions, e-commerce and other emerging sectors that align with our digital-first approach. We can create a more equitable and connected Africa by bringing together governments, the private sector and civil society. REVIEWING THE CHANGES IN SAFARICOM’S LEADERSHIP STRUCTURES I am proud of the progress we have made in the diversity of our board where currently 45% of the members are women. This is in line with our target to achieve gender parity by 2025. As a Board, we are happy to note that there are 40% of women in senior leadership. This means that we have a wider range of perspectives, experiences, and skills in the decision-making process, leading to better business outcomes. “It is crucial to ensure that digital solutions are accessible, affordable, and inclusive.” “The recent award of the M-PESA licence in Ethiopia is a significant milestone.”