Safaricom, our Kenya’s leading telecom giant, is making some game-changing moves at its 15th Annual General Meeting (AGM) that’ll leave you saying, shareholders have given the green light to two new subsidiaries, each with a unique mission to empower tech entrepreneurs and fuel innovation. It’s like a double shot of espresso for Kenya’s tech community!
Spark Fund’s Got a New Buddy
First up, Safaricom is taking its support for seed-stage startups to a whole new level! They are incorporating a company limited by guarantee to invest in these promising young companies. Imagine it as adding rocket boosters to the Spark Fund, their investment entity already helping nurture and empower seed-stage startups across Kenya. This new setup will streamline things and improve governance, so innovation can soar even higher!
Impressive Portfolio of Tech Pioneers
Let me give you a sneak peek into the Spark Fund’s star-studded portfolio. We’ve got Shupavu 291 by Eneza Education, making mobile-web learning a breeze for students. Then there’s iProcure, revolutionizing the agricultural supply chain in rural Africa. And let’s not forget Sendy, the tech company that’s building the e-commerce fulfillment infrastructure. Plus, we’ve got Africa’s first Integrated Customer Experience Company, Ajua, and Soko Fresh, extending the shelf life of produce for Digifarm farmers with their cool cold chain infrastructure. These startups are making waves, and Safaricom’s support is like wind beneath their wings!
Mature and Strategically Aligned Investments
Now, let’s talk about Safaricom’s second move—a private limited liability company that will focus on investing in mature and strategically aligned entities. 🕴️ These investments will help Safaricom’s grand mission of becoming a full-fledged tech company by 2025. It’s like Safaricom is getting a tech makeover, and we’re all here for it!
A Big Leap into Emerging Technologies
Mr. Peter Ndegwa, Safaricom’s CEO, is pumped up about these new developments! He’s all set to support early-stage companies exploring the exciting world of emerging technologies. Think analytics, Machine Learning, Artificial Intelligence, and the Internet of Things. Safaricom’s gonna be a tech trendsetter, folks! The call for applications will be live soon, so watch this space!
Shareholders’ Cheers and Dividends
At the AGM, Safaricom’s shareholders were all smiles, and rightly so! They approved a fantastic final dividend of KES 0.62 per ordinary share, totaling a whopping KES 24.84 billion. That’s like finding a pot of gold at the end of a tech rainbow! Safaricom’s commitment to delivering value to all stakeholders, from employees to customers, is commendable!
A Year of Resilience
It’s true; this past year hasn’t been a walk in the park for Safaricom. They faced tough operating conditions, like increased regulatory scrutiny, changes in taxation policies, political uncertainties, and economic challenges. But like a true Kenyan lion, Safaricom roared with resilience! They showcased a solid performance, proving their unwavering commitment to all of us—employees, customers, shareholders, and the entire community.