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Safaricom Bets on Education, Agriculture and Health to Drive Growth

At the close of business, 11 million shares worth KSh 441.7 million changed hands at a price of between KSh39 and an all-time high of KSh40.2, bringing the average for the day to KSh39.9.

Safaricom CEO, Peter Ndegwa during Safaricom @20 launch at Serena hotel.

Safaricom Kenya’s telecom market leader plans to leverage its new vision ‘going beyond’ to drive its growth.

Through the brand campaign, the telco will tap into a new digital ecosystem pushing beyond borders anchored niche markets in education, agriculture, and health sectors over the next five years.

The need for technology has been exponentially growing as every industry digitises itself to stay relevant, and competitive.

Peter Ndegwa, the chief executive, while presiding over the telco’s 20th-anniversary celebration marked on Tuesday said this was part of the company’s vision to become a purpose-led technology company by 2025.

“We’ve come up with a new vision I think the key for us is to know and for Kenyans to know that we will continue to be a purpose-led organization and transforming lives will continue to be a guiding light in everything we do,” he said.

“We want to digitise agriculture, we want to digitise education, we have seen the power of digitisation during this Covid-19 crisis. So we want to go into what we are now calling a new digital ecosystem and empower the farmer, policyholders in the health sector and students with their learning,” he said.

Ndegwa said Safaricom will leverage fibre and 4G network to provide internet to one million homes and businesses over the next five years.

He disclosed that it added two million customers on its network during the Covid-19 period, but the number of merchants is about to cross 200,000 marks, with daily M-Pesa transactions of KSh21 million.

However, according to the fourth quarter 2020 data from the Communication Authority shows Safaricom lost 0.3 percentage points in market shares to post a 64.2 percent share in mobile subscriptions.

Airtel gained 0.2 percentage points in market shares to record a 26.8 percent share in subscriptions.

“In the past two decades, Safaricom has grown from a telecommunication service provider to a technology company and our customers have been a key part of this journey,” said Ndegwa.

“We want to be a purpose-led technology company but the foundation of that is to be customer-obsessed. I believe and I’ve worked in the business for a long time that it’s only by looking after our customers is only by anticipating their needs and it’s only by serving them well. That we can truly be a sustainable business we are 20 years old. 

We want to be here 100 years from now and one of the cornerstones of that is ensuring that we are customer-obsessed.  Of course, that means bringing to life our brand promise of being there for you, being simple transparent, and honest for 35 million customers that have been loyal to us.”  

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