Safaricom has entered into an agreement with a consortium of Kenyan banks to support its environmental, social, and governance (ESG) agenda.
The Sh15 billion deal, which is scalable to Sh20 billion, becomes the largest ESG-linked loan facility in the East Africa region.
Standard Chartered, Standard Bank, ABSA, and KCB are the funding groups.
“In line with our focus to advance our sustainable business agenda, this funding will unlock our ability to create more diversified investments that will support transformative investments in new technologies, systems and services that allow us to comprehensively manage our ESG footprint,” said Peter Ndegwa, Chief Executive Officer (CEO), Safaricom PLC.
The investment is also expected to contribute to the growth of Kenya’s sustainable financing market, which remains a key priority for the Government of Kenya as part of its Vision 2030 plans.
Source : Capital