Safaricom 2023 Sustainable Business Report

11 OUR STAKEHOLDERS KPI SUMMARY OUR MATERIAL TOPICS OUR BUSINESS PATHWAY TO A PURPOSE-LED TECHNOLOGY COMPANY A CHALLENGING OPERATING ENVIRONMENT In the past year, we experienced tough headwinds in our operating environment. Similar to the global landscape, our country faced unexpected economic disruptions due to rapidly escalating global commodity prices and increasing energy costs, placing a strain on households. These challenges were further intensified by the adverse effects of climate change, including prolonged droughts and consecutive failed rainy seasons leading to extensive consequences which impacted both communities and businesses. However, we witnessed and benefited from the smooth political transition following the general elections. Notwithstanding, our commitment to transform lives and build a sustainable business remained resolute. Our dedication to this purpose was acknowledged and endorsed by various stakeholders, exemplified by my appointment as the chair of the private sector-led National Steering Committee on Drought Response, known as “Wakenya Tulindane.” This appointment followed Safaricom’s innovative initiative launched in April 2022 to unite the private sector in providing critical support to vulnerable communities affected by drought across Kenya. Notably, Safaricom PLC and the Safaricom and M-PESA Foundations generously contributed over KSh 300 million towards this noble cause. This cross-sectoral collaboration not only aimed at raising vital funds for drought-stricken areas but also inspired Kenyans to contribute their Bonga points to the “Pamoja Tuungane” initiative, further strengthening our impact. Thanks to our collective efforts and those of our partners, we successfully raised more than KSh 860 million to make a meaningful difference. USING THE SDG s AS A GUIDING FRAMEWORK For Safaricom, sustainability is not just a good thing to do, but the right thing to do. We have formalised this approach by prioritising nine of the 17 United Nations Sustainable Development Goals (UN SDGs) which we use as a framework to deliver our purpose, adopting a co-creation approach. The bottom-up approach empowers all employees from all levels and functions of the organisation to interpret what the goals mean for their day-to-day work and the functioning of their respective divisions. The top-down approach means we actively track and report on progress on our SDG commitments. Embracing the SDGs has ensured that we stay true to our promise of putting people and planet before profits. During FY23, as outlined in this report, we achieved major milestones under these commitments. MESSAGE FROM OUR CEO PETER NDEGWA “Our work in innovating and developing products that address societal challenges has helped to position Safaricom successfully as a partner of choice for our customers, community and Government.”