Safaricom Contribution To Kenyan GDP Stands At 6.5% – Report

Telco service provider Safaricom input to the Kenyan Economy stands at 6.5 per cent on top of job creation which is said to have had a 5 per cent growth to 171,369 with 32 per cent women in Senior Management, up from 30 per cent.

Safaricom’s True Value to the Kenyan society has also increased by 12% to Sh543 billion during the last financial year which is 9.8 times more than the financial profit the company made during the same period.

“We assess the significant indirect value contribution we make to the economy, society and environment in Kenya using the KPMG True Value methodology. When monetised, the net value of the most material social, environmental and economic impacts of the company, both positive and negative, gives an indication of the total value that Safaricom creates for the people of Kenya,” said Safaricom PLC Board Chairman, Nicholas Ng’ang’a.

Further adding that the more social impact of the company was made through Mpesa which increased by 20% to Sh191.1 billion up from Sh159.6 billion in FY17.

‘’The greatest value continues to be felt by M-PESA customers who benefit from improved ability to manage and save money, as well as the wellbeing that comes with access to goods,services and opportunities that would not previously have been available to them.” Ng’ang’a said.

The news comes amid strong competition in the Telco industry and at the backdrop of the company’s 18th year anniversary which saw them introduce new calling tariffs where customers can have 18 minutes of talk time to any network at Sh18 in an effort to retain their shrinking market share which has been under threat from other networks.

– Kenyan Wallstreet

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