Safaricom 2023 Sustainable Business Report

82 OUR BUSINESS KPI SUMMARY OUR MATERIAL TOPICS SAFARICOM SUSTAINABLE BUSINESS REPORT 2023 OUR STAKEHOLDERS Our interaction with regulators is based on four pillars: Comply Proactively ensure compliance with all licence obligations, legislation, regulations, by-laws and regulatory guidelines. Engage Actively engage with regulators and industry bodies through face-to-face meetings and written submissions when changes to the existing business environment are under discussion. Discuss Facilitate workshops and information sessions with regulators, members of the media and affected stakeholders to discuss public policy issues affecting the industry. Attend Be present at stakeholder workshops and engage on behalf of the telecommunications and technology industries. FOLLOWING A STRUCTURED ENGAGEMENT APPROACH COMPLY DISCUSS ATTEND ENGAGE Our business is overseen by 10 regulatory authorities, chief of which is the Communications Authority of Kenya (CA) which is responsible for the Information, Communications and Technology (ICT) sector in Kenya. MANDATE The Communications Authority of Kenya (CA) is the regulatory authority for the ICT sector in Kenya, including broadcasting, multimedia, telecommunications, electronic commerce, postal and courier services. ISSUES ON WHICH WE ENGAGE • Licensing • Spectrum management • Consumer affairs • Quality of Service (QoS) Measurements • SIM-card Registration Regulations • Universal Service Fund (USF) • Interconnect • Competition • Type approval • Compliance MANDATE The Competition Authority of Kenya (CAK) is mandated to enforce the Competition Act, No. 12 of 2010 with the objective of promoting competition in the Kenyan economy by regulating the market structure and conduct for the benefit of consumers, businesses and the economy. ISSUES ON WHICH WE ENGAGE • Consumer affairs • Mergers & Acquisitions • Competition and trade practices MANDATE The Central Bank of Kenya (CBK) is responsible for formulating monetary policy to achieve and maintain price stability. The Central Bank also promotes financial stability; an effective and efficient payment, clearing and settlement system; formulates and implements foreign exchange policies; holds and manages foreign exchange reserves; issuing of currency; and is the banker for, adviser to and fiscal agent of the Government. ISSUES ON WHICH WE ENGAGE • Mobile money transfer services (M-PESA) • International money transfer services