Nairobi — Safaricom's M-Pesa social value has increased by 14 per cent to Sh275 billion in financial year (fy) 2022, helping millions of Kenyans access crucial services such as M-Pesa, e-commerce, among others.

In its latest Sustainable Business Report, the telco said its social efforts helped thousands of communities countrywide.

Social impact was felt with an increase in the number of customers, agents, and merchants.

Others included a rise in the average number of transactions as well as value made per customer a day.

"The greatest value continues to be felt by customers, who benefit from their improved ability to manage and save money together with lower transaction costs and reduced levels of theft, and the wellbeing that comes with access to goods, services and opportunities, and increased safety as well as security,"

"We aim to further transform lives by improving the wellbeing of our customers, agents, and merchants as the M-PESA service evolves over time," the report said.

Since 2015, Safaricom has used the True Value methodology to quantify its positive and negative impact to society, the environment, and the economy in monetary terms.

"As you will see in the report Safaricom demonstrated resilience in living true to our commitment of being a sustainable purpose-driven business which has delivered consistent returns to shareholders,

"Our business continues to contribute towards successfully improving the quality of life for Kenyans across the country by delivering a wide range of products, services and initiatives that support businesses, and communities," Safaricom CEO Peter Ndegwa said.

Titled 'Partnering for Growth: Transforming Lives', the report covered the company's last fy from April 1, 2021 to March 31, 2022.