Safaricom stake in Kenya economy at $6bn

safaricom

Alliance for Science Executive Director Dr Sheila Ochugboju, Safaricom CEO Peter Ndegwa and Safaricom Board Chairman Adil Khawaja during Safaricom's Sustainable Business Report launch, at Michael Joseph Centre, Nairobi, Kenya on October 5, 2023. PHOTO | BILLY OGADA | NMG

Safaricom grew its contribution to the Kenyan economy by 25 percent to move closer to the Ksh1 trillion mark ($6.7 billion) in the financial year ended March 2023, coming in the year it sustained over one million jobs.

The company’s latest annual sustainability report says its value in the economy grew by Ksh182.3 billion ($1.23 billion) to hit Ksh909.5 billion ($6.12 billion) compared with Ksh727.2 billion ($4.9 billion) a year earlier.