Safaricom Launches First Tranche of KSh15 Billion Fixed-Rate Green Notes Under New KSh40 Billion MTN Programme

Safaricom PLC has announced the issuance of its first tranche of fixed-rate green notes of up to KSh15 billion, with an additional KSh5 billion greenshoe option, under a newly approved domestic medium-term note (MTN) programme of up to KSh40 billion.

The telecommunications company revealed that the Capital Markets Authority (CMA) granted approval for the programme on 7 November 2025, allowing Safaricom to issue notes in several tranches over time. According to the announcement, proceeds from this tranche will be directed toward eligible green projects aligned with Safaricom’s Sustainable Finance Framework.

The notes will carry a fixed rate of 10.40% per annum and a five-year tenor, with a minimum subscription size of KSh100,000, and subsequent multiples of KSh10,000. The issue is restricted to Kenya, with no jurisdiction outside the country permitted to participate.

Safaricom stated that “net proceeds of this Tranche of Notes [will] finance and/or refinance the portfolio of Eligible Green Projects”, signalling ongoing investment in climate-aligned initiatives such as energy efficiency, renewable energy, and circular economy programmes.

The offer period opened on 28 November 2025 and is scheduled to close on 5 December 2025 at 5:00 pm. The announcement adds that the issuance date and payment date for qualified institutional investors is 11 December 2025, followed by a CDSC account credit on 15 December, and listing on the Nairobi Securities Exchange (NSE) on 16 December 2025.

The tranche is classified as senior, unsecured notes, with SB Genuity Limited, Standard Bank Kenya Limited, and Standard Chartered Bank Kenya Limited acting as joint lead arrangers.

The offering documents, including the Information Memorandum dated 21 November 2025 and pricing supplements, are available through the joint lead arrangers and Safaricom’s website, in line with capital markets disclosure regulations.