Safaricom has entered a new phase in its fundraising strategy with the launch of its first bond under the Sh40 billion Domestic Medium Term Note Programme. The inaugural issuance is a Green Bond valued at up to Sh15 billion, offering Kenyans an opportunity to invest in environmentally focused projects while earning a predictable return.

Understanding What You Are Investing In

A bond operates on a simple principle: you lend money to a company for a set period, and in return, the company pays you a fixed interest rate until the bond matures. When the maturity date arrives, you receive your full principal amount back.

A Green Bond follows the same model, but the funds raised are committed exclusively to projects that support environmental sustainability.

Safaricom has confirmed that all proceeds from this first tranche will be directed into initiatives outlined under its Eligible Green Projects portfolio.

Inside the First Tranche Offer

The debut tranche is designed with accessibility in mind, making it open to the general public. Safaricom intends to raise up to Sh15 billion, with a Sh5 billion greenshoe option available if investor demand exceeds the initial target.

The bond carries a five-year tenor and offers an annual interest rate of 10.40%, allowing investors to enjoy a stable and transparent return throughout the investment term.

How to Participate in the Offer

Investing in the bond is straightforward for anyone with a CDS account. Applications can be made through any of the following channels:

• Dial *483*810# on your mobile phone

• Use the dedicated online e-offer portal

• Visit a licensed stockbroker for assistance

The minimum investment amount is Sh50,000, with any additional investments made in increments of Sh10,000.

How Safaricom Will Use the Funds

All capital raised from this bond will go towards approved green initiatives outlined in Safaricom’s Sustainable Finance Framework. These include projects related to:

• Clean and renewable energy

• Climate resilience

• Environmental conservation

• Other sustainability-focused ventures

Investors seeking more details can access the full framework through the investor relations section on Safaricom’s website.

A Tax Benefit for Investors

One notable advantage is that interest earned from certified green bonds in Kenya is generally exempt from tax. This means investors will receive the full 10.40% interest annually without any withholding tax deductions, improving their overall return.

Important Dates to Note

The offer is open from November 25, 2025, and will close on the evening of December 5, 2025. Once subscriptions are completed and allocations finalized, the bond will be listed on the Nairobi Securities Exchange (NSE) on December 16, 2025, allowing investors to trade it on the secondary market.

Where to Find the Official Documents

Investors who wish to review the full details—including the Information Memorandum and subscription forms—can find all documents on Safaricom’s Investor Relations website. These documents outline the legal and financial terms governing the bond.

Key Institutions Involved

The bond programme has been approved by the Capital Markets Authority (CMA).
The issuance is being facilitated by:

• SBG Securities

• Stanbic Bank Kenya

• Standard Chartered Bank Kenya

These institutions are acting as joint lead arrangers and advisers, supported by legal and financial experts.

What Comes Next for the Programme

While this first tranche focuses on environmental projects, Safaricom’s broader Sh40 billion note programme gives the company flexibility to issue other forms of sustainable instruments in future. Depending on funding requirements, subsequent tranches may include Social Bonds or Sustainability Bonds, enabling Safaricom to support an even wider range of impact-driven projects.

Devki Group chairman Narendra Raval has once again stirred public debate after repeating his call for President William Ruto to remain in power for up to 20 years, despite Kenya’s constitution limiting presidents to two five-year terms. Raval made the remarks while accompanying Presidents Ruto and Yoweri Museveni during the groundbreaking of Devki’s new steel plant in Uganda on November 23, renewing the conversation on leadership, governance, and economic reform in the region.

Raval argues that Kenya needs long-term political stability and consistent leadership to tackle unemployment, especially among the youth. He first sparked controversy in April 2024 when he suggested Ruto should rule for 25 years, claiming extended leadership allows the continuity required for industrial expansion. According to him, Kenya’s unemployment rate—often estimated at 5–7%, with much higher youth unemployment—can only be reduced through large-scale industrialization supported by steady government policy.

His latest remarks echo the same message: economic transformation requires time and uninterrupted leadership.

However, Raval’s proposal has drawn strong criticism. Many Kenyans view it as undemocratic and a direct challenge to the constitutional term limit meant to safeguard against authoritarian rule. Civil society groups, political analysts, and members of the public argue that advocating for extended presidential tenure undermines democratic principles. Some critics also question Raval’s motivations, noting Devki Group’s close ties to government and suggesting a possible conflict of interest.

Opponents warn that across Africa, long presidential rule has often led to weakened institutions, corruption, and shrinking civic space—not economic prosperity.

Raval’s influence as one of the region’s most powerful industrialists makes his comments particularly significant. They come at a time when Kenya faces mounting economic pressure, rising youth joblessness, and intense debate over IMF-driven reforms. His endorsement of long-term leadership is therefore seen not just as an economic opinion, but as a political statement.

The optics of Raval making these comments while standing with Ruto and Museveni—Africa’s longest-serving leader—also raised eyebrows. Museveni has ruled Uganda for nearly four decades, having repeatedly amended the constitution to extend his stay in power. Many observers noted that the setting reinforced the message, intentionally or otherwise.

While Raval frames his position as pro-development, the controversy touches on deeper issues: the balance between stability and accountability, whether long leadership truly supports economic growth, the role of business tycoons in political narratives, and how far Kenya is willing to bend constitutional principles in the name of progress.

For now, Kenya’s constitutional term limit remains intact, and Ruto’s tenure is legally capped. But Raval’s repeated remarks ensure that the debate over extended presidencies—and who benefits from them—will remain alive for some time.

Kenya’s leading telecommunications company, Safaricom, is marking its 25th anniversary with a series of customer rewards, special offers, and community-driven initiatives. The celebrations highlight the company’s journey from a small mobile operator to one of Africa’s most influential technology and innovation brands.

A Milestone of Innovation and Growth

Safaricom began operations in 2000 with fewer than 20,000 customers. Today, it connects more than 45 million subscribers across Kenya and has become a key player in mobile money, data services, and digital innovation through M-PESA, its flagship mobile payment platform.

The company says its 25th anniversary is not only a celebration of longevity but also a reflection of how technology has transformed lives and businesses across Kenya.

In a statement, Safaricom CEO Peter Ndegwa said the company’s focus remains on empowering customers and driving digital inclusion.

“Our journey has always been about transforming lives. As we celebrate 25 years, we renew our commitment to connecting people, communities, and opportunities across Kenya,” he said.

Customer Rewards and Offers

To mark the milestone, Safaricom has rolled out a range of customer rewards that include:

• Bonus airtime and data bundles for loyal customers.
• Discounts on selected devices and accessories in Safaricom shops.
• M-PESA rewards through special anniversary promotions.

The company has also announced exclusive draws where customers can win cash prizes, smartphones, and shopping vouchers throughout the celebration period.

Community Impact and Social Responsibility

As part of the 25th anniversary celebrations, Safaricom is investing in several community projects under its corporate social responsibility programs. These include:

• Expanding access to education through the M-PESA Foundation Academy.
• Supporting health initiatives, especially in maternal and child care.
• Strengthening environmental sustainability efforts through tree planting and green energy projects.

Safaricom says it will continue to focus on sustainability, digital literacy, and innovation that benefits both urban and rural communities.

A Legacy of Digital Transformation

Over the years, Safaricom has played a central role in shaping Kenya’s digital economy. The introduction of M-PESA in 2007 revolutionized how Kenyans send and receive money, inspiring similar systems across Africa.

Today, the company’s innovations extend beyond telecommunications — including investments in fintech, agriculture, education, and health technology.

As it enters its next chapter, Safaricom plans to strengthen its 5G rollout, expand its M-PESA ecosystem, and explore new frontiers such as artificial intelligence and cloud solutions.

Looking Ahead

Safaricom’s 25th anniversary is both a celebration and a challenge — a reminder of how far Kenya’s technology sector has come, and how much potential lies ahead.

The company’s continued focus on innovation, inclusion, and customer experience positions it as a driving force in Kenya’s digital transformation journey.