Safaricom’s Sh20 billion Green Bond formally started trading on the Nairobi Securities Exchange (NSE) marking a significant milestone for the telecommunications company.
The issuance received applications totaling Sh41.6 billion, an oversubscription of 175.7 per cent, making it the largest bond ever issued by Safaricom and Kenya’s largest Green Bond.
This remarkable response to the first tranche of Safaricom’s Domestic Medium-Term Note (DMTN) reflects a strong investor confidence in the firm’s strategy and long-term vision.
Corporate leaders present including NSE CEO Frank Mwiti, Chairman Kiprono Kittony, Capital Market Authority’s Daniel Warutere, and Stanbic Bank Regional Chief Executive – East Africa Joshua Oigara highlighted the confidence investors have in Safaricom’s strategy.
Safaricom CFO, Dilip Pal said the NSE listing indorses confidence in Kenya’s capital markets, their depth, resilience and capacity to mobilise long-term capital for productive investment.
Pal reiterated that the proceeds from this bond will fund initiatives to boost operational efficiency, expand renewable energy, and advance sustainability across the telco’s network.
“This transaction demonstrates what is possible when local capital markets are thoughtfully and deliberately engaged,” stated Pal.
He added: “We aim to be innovative, disciplined and aligned to the long-term evolution of Kenya’s Capital markets.”
Oigara, Regional CE of Stanbic, the Joint Lead Advisor, Sponsoring Broker, and Placing Agent, said the listing reflects institutional strength, investor confidence, innovation in Kenya’s markets.
“The Safaricom listing is more than a financial milestone: we must celebrate Kenya’s ambitions in a bold direction set by our national leadership,” intimated Oigara.
He added: “We are definitely sending a signal to the world that Kenya has always been ready for business, our markets are built on integrity, transparency and with incredible level of trust.”
The highlight of the event was the bell-ringing ceremony and Red Jacket Trade, attended by Pal, NSE leadership, and CMA representatives, officially marking the Green Bond’s listing.
The Bond carries a five-year tenure and a 10.4 per cent tax-exempt returns, with the secondary trading now open for through licensed stockbrokers and investment banks.
