Kenya’s telecommunication giant company Safaricom has been ranked number 19 globally on the Fortune Magazine.
The ratings look at how company use their profits in helping the society as a way of giving back. This is the second time Safaricom is appearing on the list the first time being in 2015 when it topped the list.
The fortune magazine attributes this to genius mobile money transfer services M-Pesa. Safaricom has a market value of Ksh 1.13 trillion and has seen rising profits every financial year through its innovative strategies.
Safaricom through M-Pesa transacts millions of shillings each day and this service has been recognized by the Fortune Magazine as a way of making life easy for many people. M-Pesa targets over 30 million users across 10 different countries in the world.
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“More than eight million of those users are in India, where state governments are employing Mpesa to pay pensions to rural retires, eliminating the delays and crime risks that come with shipping cash,” Said Fortune Magazine.
In Kenya alone, Mpesa has over 26 million customers using the service to send and receive money, pay bills on different platforms and also giving the users the platform to save and borrow micro-loans on Mshwari.
For 10 years, Kenya has been leading 20 other countries in Africa in financial inclusion and mobile money transfer, all this success has been attributed to the invention and use of Mpesa.
Safaricom which is the top revenue generator in Kenya and the only company that can be termed as reporting ‘unimaginable’ profits is the second telecommunication company that has ever been featured on the Fortune Magazine top 50 list and has managed to beat monster firms like Siemens, Microsoft, Apple, Barclays, Toyota and Deloitte.
Through the Safaricom Foundation, the firm has been able to support different projects through its corporate social responsibility (CSR) program by nurturing talent.
Mpesa Academy founded by Safaricom has also impacted positively in the education sector.