Safaricom strengthens its commitment to SDGs by joining UN Global Compact’s Forward Faster Initiative

KENYA – Safaricom, the leading telecommunications company in Kenya, has joined the United Nations Global Compact’s Forward Faster Initiative.

The initiative aims to accelerate the achievement of the Sustainable Development Goals (SDGs) by harnessing the power of technology and innovation.

As part of the initiative, Safaricom will collaborate with other global companies to develop and implement innovative solutions that address key challenges related to the SDGs.

These challenges include poverty, inequality, climate change, and the need for access to quality education and healthcare.

Peter Ndegwa, CEO of Safaricom, said, “We have taken up the challenge to fast-track key areas of sustainability as the 2030 deadline approaches.

“I am glad that Safaricom is playing a role in shaping the narrative on the delivery of the SDGs which are crucial for reducing inequalities and improving our planet.

“As much as we are actively making both short and long-term investments to incorporate ESG (Environmental, Social, and Governance) principles into our business practices, there is still progress to be made. Global challenges such as climate change, the Covid-19 pandemic and conflicts have hindered the momentum towards achieving some of our goals.

“As members of the private sector, we can work together to overcome challenges by forming partnerships that help us achieve our goals.”

Safaricom, which has incorporated nine out of the 17 SDGs in its business operations, has previously urged CEOs from the region to join the African Business Leaders Coalition in order to address concerns regarding climate change.

The company has been at the forefront of providing access to mobile and internet services in rural and underserved areas, contributing to SDG 9 (Industry, Innovation, and Infrastructure) and SDG 17 (Partnerships for the Goals).

Through its M-PESA mobile money platform, Safaricom has played a critical role in promoting financial inclusion in Kenya, contributing to SDG 1 (No Poverty) and SDG 10 (Reduced Inequalities).

By joining the Forward Faster Initiative, Safaricom aims to enhance its contribution to the SDGs and collaborate with other like-minded companies to drive global sustainable development.

The UN Global Compact’s Forward Faster Initiative provides a platform for companies to share best practices, collaborate on projects, and scale up innovative solutions to address the world’s most pressing challenges.

Earlier this month, Safaricom secured a US$101.59 million (KES 15b) Sustainability-Linked Loan to bolster its Environmental, Social, and Governance (ESG) agenda. The loan will enable the company to diversify its investments as it progresses towards achieving key ESG goals.

For all the latest packaging and printing industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.