The Safaricom Green Bond has attracted strong interest from individual investors, with retail participants accounting for 96 per cent of all applications during its first issuance.
Safaricom PLC on Tuesday marked the formal listing of the bond at the Nairobi Securities Exchange (NSE), confirming that 2,453 individual investors took part in the offer.
Applications made through USSD and payments completed via M-PESA accounted for 59 per cent of the total, underscoring how the Safaricom Green Bond set new market standards by prioritising accessibility and digital innovation.
Safaricom will take up KES20 billion in the first tranche of its Domestic Medium-Term Note programme, roughly half of the KES41.4 billion submitted by investors. This represents an oversubscription of 175 per cent, making the Safaricom Green Bond the largest green bond issuance in Kenya to date.
Safaricom Green Bond Marks Return to Capital Markets
The listing of the Safaricom Green Bond, marked by a bell-ringing ceremony at the NSE, signals the company’s deliberate return to the capital markets. It is also the first issuance under Safaricom’s Medium-Term Note (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,” said Safaricom PLC Group Chief Finance Officer Dilip Pal. “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.”
The Safaricom Green Bond reflects a strategic shift in how the company finances its growth, positioning capital markets as a scalable and sustainable source of long-term funding alongside traditional financing options.
It also signals Safaricom’s intention to remain a disciplined and innovative issuer aligned with the long-term development of Kenya’s capital markets.
Pal said proceeds from the Safaricom Green Bond will be used to finance investments that support an energy-efficient digital future, including 5G deployment, the solarisation of network sites, and the transition from legacy technologies to cleaner and more efficient solutions.
Beyond Safaricom, the successful listing affirms the capacity of Kenya’s capital markets to mobilise long-term capital for productive investment and reinforces the role of sustainable finance in supporting national development priorities.
The company also reaffirmed its commitment to deepening participation in capital markets through continued innovation. Initiatives such as Ziidi, Safaricom’s mobile money market fund, have already lowered barriers to saving and investing by bringing capital markets products closer to everyday Kenyans.
Safaricom said it will continue exploring new ways to expand access and drive financial inclusion. The Safaricom Green Bond is now listed and available for trading on the Nairobi Securities Exchange.
