Safaricom PLC has received regulatory approval from Kenya's Capital Markets Authority CMA to establish a Medium Term Note MTN programme of up to KES 40 billion, marking a major step in the company's capital-raising strategy.
In a public announcement dated 20 November 2025, Safaricom confirmed that the CMA granted the approval on 7 November 2025 under Section 30A of the Capital Markets Act. The MTN Programme will allow the telecommunications giant to issue notes in multiple tranches, including green, social, and sustainability notes, aligning with modern market trends and ESG-driven financing.
Safaricom plans to launch the programme with an information memorandum and a pricing supplement for Tranche 1, which will outline the detailed terms and conditions of the first issuance. The release of Tranche 1 will, however, depend on the finalisation of commercial terms and subsequent approval by the CMA of the corresponding pricing supplement.
