Table of Contents 1 112

Safaricom 2023 Sustainable Business Report

Our business 4
Introduction 5
Safaricom at a glance 6
Our Ethiopian operations at a glance 7
ESG Overview: Ethiopia 8
Message from our Chairman 10
Message from our CEO 13
Our accolades in FY23 17
Our corporate strategy 18
Our purpose strategy 19
Our ESG targets 20
Our sustainable business model 22
Our contribution to the UN SDGs 23
Contents 3
FY23 year in review 28
True value assessment 31
Our material matters 36
Governance, business ethics and risk 37
Maintaining a robust governance framework 37
Ensuring a positive risk culture 37
Reinforcing our ethical culture 38
Expanding our security services 39
Our regulatory environment 41
Ensuring transparency 41
Maintaining high levels of compliance 42
Monitoring ongoing developments 42
Working to implement the USF Project Phase 2 42
Our platforms 44
Delivering always-on digital-first technology 44
M-PESA: Innovating to enhance financial inclusion 47
Growing revenue 48
Our DigiFarm platform: Promoting commercial sustainability 48
Environmental stewardship 50
Promoting circularity 50
Assessing our impact 52
Monitoring resource usage and air quality 52
Educating and training stakeholders 52
Enhancing energy security and aligning with climate action 53
Pathway to Net Zero by 2050 54
Increasing our CDP score 56
Collaborating with Kenya Forest Service 56
Quantifying our carbon impact 56
Innovation & partnerships 60
Delivering social impact 60
Digital solutions for healthcare 60
Enhancing access to quality education 61
Partnering to provide humanitarian aid 61
Helping to enhance food security 61
Enabling our vision 62
Our stakeholders 64
Customers 65
Consumer customers 65
Enterprise customers 67
Society 70
Partnering to enhance equity 70
Safaricom Foundation 72
M-PESA Foundation 73
Sustainable Philanthropy 74
Safaricom PLC initiatives 75
Employees 78
Becoming a future-fit organisation 78
Building a diverse workforce 78
Taking Safaricom’s pulse 81
Key findings of the 2022 SEMA survey 81
Promoting safety and wellbeing 82
Regulators 83
Providing input on evolving regulation 83
Engaging closely 79
Business partners 86
Maintaining constructive relationships with our business partners 86
Suppliers 86
Dealers 88
Agents 88
Shareholders 91
Understanding our shareholder base 91
Interacting closely with our shareholders 91
Media 93
An expanding media landscape 93
Enhancing leadership profiles 93
Holding positive conversations 93
Increased media interest in sustainability 94
Appendix 95
Key performance indicators 96
Assurance letter 109

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