Safaricom PLC has formally listed its Green Bond at the Nairobi Securities Exchange (NSE), marking a major return to the capital markets and underscoring growing retail investor participation in sustainable finance.
The bond attracted strong interest from individual investors, with 2,453 retail applicants accounting for 96 per cent of all applications in the first tranche. More than half of the applications 59 per cent were made through USSD, with payments completed via M-PESA, reflecting how digital platforms continue to reshape access to capital markets.
From the KES41.4 billion received in applications, Safaricom will take up KES20 billion in the first tranche of its Domestic Medium-Term Note (MTN) programme. The offer was oversubscribed by 175 per cent, making it the largest Green Bond issuance in Kenya to date.
The milestone was marked by the traditional bell-ringing ceremony at the NSE, signalling Safaricom’s first issuance under its MTN Programme, which is anchored in the company’s Sustainable Finance Framework.
“This transaction demonstrates what is possible when local capital markets are deliberately and thoughtfully engaged. It is a clear vote of confidence in our fundamentals, strategy, and long-term outlook, and a strong signal of confidence in the depth and resilience of Kenya’s capital markets,” said Safaricom PLC Group Chief Finance Officer Dilip Pal.
The Green Bond represents a strategic shift in how Safaricom finances its growth, positioning capital markets as a sustainable and scalable source of long-term funding alongside traditional financing options. The company said the move also reflects its intention to be a disciplined and innovative issuer aligned with the long-term development of Kenya’s capital markets.
According to Dilip, the proceeds from the bond will be used to fund investments that support an energy-efficient digital future. These include the expansion of 5G infrastructure, the solarisation of network sites, and the gradual transition from legacy technologies to cleaner and more efficient solutions.
Beyond Safaricom, the successful listing highlights the capacity of Kenya’s capital markets to mobilise long-term capital for productive investment and reinforces the growing role of sustainable finance in advancing national development priorities.
Safaricom also reaffirmed its commitment to widening participation in capital markets through continued innovation. Initiatives such as Ziidi, the company’s mobile money market fund, have already lowered barriers to saving and investing by bringing capital market products closer to everyday Kenyans. The firm said it will continue exploring new ways to expand access and drive financial inclusion.
The Green Bond is now officially listed and available for trading on the Nairobi Securities Exchange.
