Safaricom, East Africas largest telecom operator, led by Kenyan executive Peter Ndegwa, has opened the first Ksh15 billion 115.6 million tranche of its Ksh40 billion 308.4 million Domestic Medium-Term Note program, with an option to raise another Ksh5 billion 38.6 million if demand is strong. The bond is Kenyas largest green issuance to date.
The proceeds will finance or refinance a portfolio of approved environmental projects, part of Safaricoms broader push to cut its footprint and direct more resources toward sustainable operations. Under Kenyan law, interest earned on the bond is tax-exempt, giving investors the full value of their returns.
This Green Bond underscores our commitment to embedding sustainability at the heart of our business, Ndegwa said. We want to create long-term value for our stakeholders while delivering real environmental and social impact.