Safaricom doubles down on ESG with second KES 15b loan

The company aims to achieve net-zero carbon emissions by 2050.
Safaricom House
Image | Courtesy

Safaricom has secured another KES 15 billion Sustainability Linked Loan, bringing the total loan facility to KES 30 billion. This marks the largest such loan in East Africa. The loan facility is set to advance Safaricom’s Environmental, Social, and Governance (ESG) agenda.

Samsung AD

A consortium of four banks, including KCB, ABSA, Standard Chartered, and Stanbic, provided the funding to enable Safaricom to scale up its strategic sustainable investments.

“This deal helps to accelerate the advancement of our sustainability agenda. It is a testament that we have achieved the targets we set out to achieve with the first one where we aligned our sustainability agenda with our financial strategy,” said Peter Ndegwa, CEO Safaricom.

The loan facility will support Safaricom’s transition into a technology company by helping it reduce its carbon footprint and enhance its progress on gender diversity.

The company aims to achieve net-zero carbon emissions by 2050.

Safaricom’s CFO, Dilip Pal, spoke about the company’s commitment to ESG and the alignment of its sustainability and financing strategies.

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