Safaricom contributed KShs 654 Billion to the Kenyan economy in the 2019/20 financial year

[Teargass]

Safaricom Contributed KShs 654 Billion To The Kenyan Economy In The 2019/2020 FY​

by anisi

In recognition of the importance of the private sector’s contribution to the SDGs, Safaricom also launched the Safaricom Sustainable Future thought leadership series.

Safaricom (NSE: SCOM) sustained more than one million direct and indirect jobs in the last financial year. According to the telco’s 9th Sustainable Business Report, it sustained 1,013,728 jobs up from 979,000 which is a 4% increase from the previous financial year.

In the report whose theme is Resilience through transition, the company seeks to show that embracing the ideals of sustainable business, shared value thinking and the Sustainable Development Goals (SDGs) is essential to cultivating the resilience necessary to combat large-scale crises like the COVID-19 pandemic.

“Our theme highlights how we faced significant disruption during the year, but the fundamentals of the business proved to be resilient and strong. Against the backdrop of the continued disruption we face in the telecommunications industry, we also had to contend with the impact of the COVID-19 pandemic during the later stages of the year”, Said Peter Ndegwa, CEO, Safaricom.

The company’s social impact was valued KES.654billion in the 2019/2020 financial year, nine times the financial profit the company earned during the same period. The report also shows that 74% of the telco’s total spend in the period under review went to supporting local suppliers up from 67% in the previous financial year.

“Since 2012, we have been documenting our sustainability journey because we believe in holding ourselves accountable by sharing our successes, our challenges, and our constraints in a public, transparent and open manner. We also publish this report because we believe that we have a duty to raise awareness of the sustainability challenges we face as a society and to ensure that these remain part of the discussion in Kenya and internationally”, Ndegwa said.

In recognition of the importance of the private sector’s contribution to the SDGs, the telco also launched the Safaricom Sustainable Future thought leadership series. The platform aims to bring together business leaders to disccuss how to tackle some of the most pressing challenges of this decade including climate change, gender, inequalities and ecosystem degradation.

The inaugural edition of the series was held during the launch of the report and focused on the role of business in building resilient societies as we emerge from the COVID-19 crisis. The discussion explored opportunities for supporting small businesses bounce back given the vital role they play in the economy.

 

[Teargass]

Watu wa Uchumi ya Kenya inaporomoka mko wapi?
joto la jiwe , Geza Ulole

 

[vulcan]

Watu wa Uchumi ya Kenya inaporomoka mko wapi?
joto la jiwe , Geza Ulole

Wametorokea vijijini huko Morogoro

 

[Teargass]

wametorokea vijijini huko morogoro

Yani in one year alone Safaricom imeongeza 10% of Tanzanian GDP to the Kenyan economy.

 

[Mkikuyu- Akili timamu]

Safaricom exports Zero services, its foreign income earnings are zero. All it does is overcharge poor kKnyans on mpesa and airtime.
For a company this big not to have subsidiaries in other countries shows a lack of ambition, laziness and being in a "comfort" zone.

This is kenya's biggest economic contributor? No wonder the paper GDP numbers dont match ordinary kenyan livelihoods

 

[vulcan]

Safaricom exports Zero services, its foreign income earnings are zero. All it does is overcharge poor kenyans on mpesa and airtime.
For a company this big not to have subsidiaries in other countries shows a lack of ambition, laziness and being in a "comfort" zone.
This is kenya's biggest economic contributor? no wonder the paper GDP numbers dont match ordinary kenyan livelihoods

Have you heard about Mpesa Africa joint venture with vodafone? This is the true game changer. Sit there and watch

 

[Teargass]

Safaricom exports Zero services, its foreign income earnings are zero. All it does is overcharge poor kenyans on mpesa and airtime.
For a company this big not to have subsidiaries in other countries shows a lack of ambition, laziness and being in a "comfort" zone.
This is kenya's biggest economic contributor? no wonder the paper GDP numbers dont match ordinary kenyan livelihoods

Kampuni gani za Tanzania ziko na subsidiary in other countries?

 

[Mkikuyu- Akili timamu]

Kampuni gani za Tanzania ziko na subsidiary in other countries?

From the top of my head (bakhresa) Azam, MeTL etc and they are the biggest GDP contributors to TZ, For safaricom, an economic leech to be the biggest contributor to kenya its a shame!

 

[Teargass]

From the top of my head (bakhresa) Azam, MeTL etc and they are the biggest GDP contributors to TZ, For safaricom, an economic leech to be the biggest contributor to kenya its a shame!

Safaricom is better than Tanzanian top 50 companies combined. What do you have to say about that?

 

[Mkikuyu- Akili timamu]

Have you heard about Mpesa Africa joint venture with vodafone? This is the true game changer. Sit there and watch

Mpesa is owned by vodafone and licenced to many countries not just kenya, safaricom is the lazy kid who wount go out and play in the big leagues with other nations, they are comfortable milking kenyans dry

 

[MK254]

Dah! Hiyo hela ni ndefu zaidi ya balaa, hehehe hautawaona hapa wanapita kimya, huu uzi una views nyingi tu ila hamna pimbi lolote limetolea neno.

 

[Mkikuyu- Akili timamu]

Safaricom is better than Tanzanian top 50 companies combined. What do you have to say about that?

Better in what? how much foreign exchange does Safcom bring in to kenya? yes its better in milking kenyans

 

[pingli-nywee]

Safaricom exports Zero services, its foreign income earnings are zero. All it does is overcharge poor kenyans on mpesa and airtime.
For a company this big not to have subsidiaries in other countries shows a lack of ambition, laziness and being in a "comfort" zone.
This is kenya's biggest economic contributor? no wonder the paper GDP numbers dont match ordinary kenyan livelihoods

"...Safaricom (NSE: SCOM) sustained more than one million direct and indirect jobs in the last financial year. According to the telco’s 9th Sustainable Business Report, it sustained 1,013,728 jobs up from 979,000 which is a 4% increase from the previous financial year..." How many Tanzanian telcos or even companies in other sectors have subsidiaries in other countries? Or is Kenya the one and only SI unit of ambition in this region?

 

[Mkikuyu- Akili timamu]

"...Safaricom (NSE: SCOM) sustained more than one million direct and
indirect jobs in the last financial year.
According to the telco’s 9th Sustainable Business Report, it sustained 1,013,728 jobs up from
979,000 which is a 4% increase from
the previous financial year..." How many Tanzanian telcos or even companies in other sectors have subsidiaries in other countries? Or is Kenya the one and only SI unit ambition in this region?

Missing the forest for the trees.

1. Every company that is in business creates jobs, its not a "Miracle" that safaricom has created jobs

2.The true measure of a company's economic contribution is how much foreign income it brings in, safcom bring in ZERO, and to make matters worse, its the largest importer of Telco goods, further consuming precious forex reserves.

3. Economically speaking, kenyanTea Farmers and avocado export farmers are better for the economy than safaricom.

 

[vulcan]

Mpesa is owned by vodafone and licenced to many countries not just kenya, safaricom is the lazy kid who wount go out and play in the big leagues with other nations, they are comfortable milking kenyans dry

Let me educate you, Safaricom and Vodacom are now running the Mpesa Africa project to push Mpesa across the African Market..
this is a big venture poised to change the landscape of mobile payments...

Uliza swali nikujibu

 

[vulcan]

Missing the forest for the trees..

1. Every company that is in business creates jobs, its not a "Miracle" that safaricom has created jobs

2.The true measure of a company's economic contribution is how much foreign income it brings in, safcom bring in ZERO, and to make matters worse, its the largest importer of Telco goods, further consuming precious forex reserves.

3. Economically speaking, kenyanTea Farmers and avocado export farmers are better for the economy than safaricom.

its a shame that someone who claims to be an economist can even dare type such nonsense..

 

[pingli-nywee]

Missing the forest for the trees..

1. Every company that is in business creates jobs, its not a "Miracle" that safaricom has created jobs

2.The true measure of a company's economic contribution is how much foreign income it brings in, safcom bring in ZERO, and to make matters worse, its the largest importer of Telco goods, further consuming precious forex reserves.

3. Economically speaking, kenyanTea Farmers and avocado export farmers are better for the economy than safaricom.

You missed the one question I asked, how many Tanzanian companies have subsidiaries in other countries? How much foreign exchange do those companies contribute to the Tanzanian economy?

 

[Mkikuyu- Akili timamu]

You missed the one question I asked, how many Tanzanian companies have subsidiaries in other countries? How much foreign exchange do those companies contribute to the Tanzanian economy?

I have answered that Question, of the top of my head, MeTL & Bakhresa, MeTL from their last publised news letter says they contribute 3.5% of Tz GDP, not seen figures from Bakhresa though

 

[Mkikuyu- Akili timamu]

Let me educate you, Safaricom and Vodacom are now running the Mpesa Africa project to push Mpesa across the African Market..
this is a big venture poised to change the landscape of mobile payments...

Uliza swali nikujibu

View attachment 1599821

Look at this small head,
Vodacom SA acquired Vodafone's Stake, Safaricom did not acquire any stake in mpesa..if they have bring the shareholding figures.

 

[vulcan]

Look at this small head,
Vodacom SA acquired Vodafone's Stake, Safaricom did not acquire any stake in mpesa..if they have bring the shareholding figures.

you are usually so confident in your ignorance..

Safaricom, Vodacom to buy M-Pesa rights from Vodafone

Safaricom, Vodacom plan $13 million purchase of M-Pesa rights from Vodafone


''Safaricom, the most profitable company in East Africa, pays 2 percent of its annual M-Pesa revenue to Vodafone. Revenue from M-Pesa stood at 75 billion shillings ($741 million) in Safaricom’s financial year to the end of March.

Vodacom, a South African operator which owns 35 percent of Safaricom, pays 5 percent in an intellectual property fee to Vodafone from its M-Pesa business, which is mainly in Tanzania. ""



There was also this.... which is a separate deal
saa zingine ni vizuri kusoma
Vodacom to Buy 35% Stake in Kenya’s Safaricom From Vodafone