Nairobi — Safaricom contributed Sh909.5 billion into the Kenyan economy in the last financial year that ended in March 2023, a new report notes, even as its role in the Kenyan economy is revealed.

The telco also sustained over 1.2 million jobs (236,674 direct and 1.2 million indirect).

The Sh909.5 billion contribution was approximately 15 times greater than its financial profit for the last period.

The overall contribution is attributed to a 17 percent growth in customers, agents, and merchants through M-Pesa.

Another is the economic growth from capital and operational expenditures.

"Sustainability reporting is not just a corporate responsibility but an essential pillar of our business strategy," said Safaricom PLC CEO Peter Ndegwa during the release of the telco's 12th Sustainable Business Report.

"Being accountable on Environmental, Social and Governance (ESG) ensures that we remain committed to our core-Transforming Lives," he added.

The report also adds that 45 percent of Safaricom's Board of Directors is represented by women, with those in senior management also standing at 40 percent.

Similarly. 5.92 percent of Safaricom's total procurement went to marginalized groups such as women, youth, and persons with disabilities (PWDs).

While three percent of its workforce are PWDs, the telco has also been able to collect and recycle 1,758 metric tons of e-waste.

Safaricom added that it is currently setting up environmental, social, and governance (ESG) structures and policies in Ethiopian business that will be documented starting from the next report.

"We are proud to be a catalyst for positive change in Kenya, Ethiopia, and the rest of the world," Adil Khawaja, Chairperson of the Safaricom Board, said.

"We will continue to innovate, adapt, and work diligently to ensure that Safaricom continues to connect millions to financial services, empowering communities and driving economic growth."