Safaricom Boss Rallies Kenyan CEOs to Commit to UN Global Compact’s Africa Business Leaders Coalition

Climate crisis has become the modern-day pandemic affecting all cycles and regions of the world right from the topmost of class to the least in the life cycle pyramid.

Its urgency thereby saw the UN Global Compact convene in New York, 31 May 2022 and Chief Executive Officers from across Africa announced the launch of the Africa Business Leaders Coalition (ABLC).

A move that was basically aimed at ensuring CEOs in African startups and businesses can come together and advance Africa’s sustainable growth, prosperity and development.

During Safaricom’s 11th Sustainability Report launch, Mr Peter Ndegwa Company CEO urged fellow CEOs to join in on the coalition of members to deal with pressing sustainability issues.

“Together with my fellow CEOs, we are advancing the agenda on the importance of partnerships in resolving pressing global challenges such as climate change. We would like to use this forum to rally the collective action of businesses in coming up with sustainable solutions towards shared prosperity,” Ndegwa said.

He emphasized that the Coalition does provide a platform for African business leaders to have a unified private sector voice as they actively and meaningfully engage to work on the continent’s most pressing issues through an organized, forward-looking, principles-based approach.

The Sustainability report titled Partnering for Growth: Transforming Lives, is coverage of Safaricom’s last fiscal year from 01st April 2021 to 31st March 2022 and highlights of progress it has made towards building a more sustainable business.

Safaricom has continuedly to offer its impacts to the society analysis through the True Value methodology to quantify its positive and negative impact on society, the environment, and the economy in monetary terms.

The True Value assessment calculates that Safaricom sustained over 214,000 direct and indirect jobs during the year and, if the wider effects on the economy are included, this number increases to over 1.1 million jobs.

According to Mr Ndegwa, M-PESA’s social value increased by 14% to KES 275 billion driven by the increase in the number of customers, agents, merchants and the average number and value of transactions per customer.

“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”, added Ndegwa.

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