Safaricom contributed 6 percent of Kenya’s Growth Domestic Product (GDP), a KPMG report has said.
The report by KPMG was meant to determine Safaricom’s true value. The assessment is critical to better understand and quantify the company’s value creation for Kenyan society in 2015. This value is above the financial value the company created for its shareholders.
KPMG identified that Safaricom generated societal value for Kenya which is at least nine times greater than its financial profit in 2015. The company said
This translated to additional economic activity amounting to sh315bn that was created due to the revenue generated by Safaricom, the equivalent of 6 percent of Kenya‟s GDP. In the last year, the company created 4,251 direct jobs and 108,000 indirect jobs.
Safaricom Foundation has spent sh3bn over the last 15 years, the focus being on education, health and financial services. The company said that M-PESA Foundation Academy, which started operations this year, will provide 97 children with the ability to access high quality education in the first year but growing to almost 1,000 when the school is completed.