NAIROBI, Kenya, Oct 4 – Safaricom on Wednesday launched its sixth Sustainable Development report with a promise to fight corruption and promote ethical behaviour at the firm.
At the launch, CEO Bob Collymore said Safaricom considers sound governance and ethical behaviour to be crucial to the success of the organisation.
He revealed that the firm axed 52 members of staff due to fraud in the period covered by the report.
He also said that 98 per cent of Safaricom’s suppliers are signatories of the Code of Ethics for Business in Kenya.
“We are keenly aware that if our business is not run in an ethical, transparent and accountable manner, we are likely to face increased legal and reputation risks,” he said.
Safaricom’s contribution to the GDP stands at 6.5 per cent creating Sh486billion total value for the Kenyan society during the 2016/2017 Financial Year, 17 per cent higher than the total value it created in the last financial year.
The company’s two charitable arms, M-PESA and Safaricom Foundations have also seen their contributions to society almost double in the past year, from Sh3.6 billion to Sh6.6 billion. The greatest growth has been in the areas of education and health.
“The social value of M-PESA remains a significant creator of value for Kenyan society, increasing by 12 percent in the last financial year. The major driver for this growth has been the increase in customer, agent and merchant numbers,” Collymore noted.
During the year, the company was fined Sh270 million by the Communication Authority of Kenya (CA) for failing to meet its quality of service requirements.