Safaricom PLC on Tuesday listed its green bond on the Nairobi Securities Exchange, with individual investors dominating demand after the offer attracted applications worth KES41.4 billion, the company said.
Retail investors made up 96% of the 2,453 applications, with 59% submitted via USSD and paid through M-PESA, underscoring the role of mobile money in widening access to capital markets.
Safaricom will take up KES20 billion in the first tranche of its Domestic Medium-Term Note programme, about half of the amount applied for, implying an oversubscription of 175% in what the company said is Kenya’s largest green bond issuance.
“This transaction is a clear vote of confidence in our fundamentals, strategy and long-term outlook,” Chief Finance Officer Dilip Pal said at the NSE bell-ringing ceremony marking the listing.
Proceeds from the bond will fund projects aligned to Safaricom’s Sustainable Finance Framework, including 5G rollout, solarisation of network sites and the shift to cleaner, more energy-efficient technologies.
The listing marks Safaricom’s return to the capital markets and highlights growing appetite for sustainable finance instruments in Kenya. The bond is now available for trading on the NSE.
