Safaricom has launched the first $115 million tranche of its $308 million domestic medium-term note programme, marking Kenya’s largest green bond issuance to date. The company has included a green-shoe option that would allow it to raise an additional $38 million if demand exceeds the initial target.
The offer runs from 25 November to 5 December and carries a tax-free interest rate of 10.4%. Under Kenyan law, interest earned on approved green bonds is exempt from tax, enabling investors to capture the full yield.
The minimum investment is KSh 50,000, equivalent to $385, with top-ups allowed in KSh 10,000 increments (about $77).
Proceeds will be used to finance and/or refinance eligible green projects within Safaricom’s sustainability portfolio, supporting the company’s environmental commitments while diversifying its funding base and strengthening financial resilience.
“This Green Bond underscores our commitment to embedding sustainability at the heart of our business. By adopting innovative financing solutions, we create long-term value for our stakeholders while delivering positive environmental and social impact,” said Safaricom CEO Peter Ndegwa.
Group CFO Dilip Pal added: “As Kenya’s largest green bond issuance—and the first to allow mobile-based subscriptions—it reinforces our commitment to innovation, accessibility, and sustainable growth.”
Investors can apply via USSD 483810#, online at www.safaricombond.e-offer.app, or through licensed stockbrokers.
The bond is arranged by SBG Securities, Stanbic Bank Kenya, and Standard Chartered Bank Kenya, with Dyer & Blair Investment Bank also serving as a placing agent.
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