Safaricom PLC has officially listed its 5-year fixed-rate Green Notes on the Nairobi Securities Exchange (NSE) today, marking a significant milestone under its Domestic Medium Term Note (MTN) Programme.
The first tranche of the issuance totals up to Sh15 billion, with an additional Sh5 billion available under a greenshoe option, following approval from the Capital Markets Authority on November 7, 2025.
The Green Notes, issued under Safaricom’s MTN Programme of up to Sh40 billion, carry a fixed annual interest rate of 10.40 percent and have a tenor of five years.
The notes are senior and unsecured, and investors may subscribe with a minimum of Sh50,000, with further subscriptions in multiples of Sh10,000.
“The Issuer shall allocate 100 percent of net proceeds of this Tranche of Notes to finance and/or refinance the portfolio of Eligible Green Projects as indicated in the Green Project Categories set out under the Sustainable Finance Framework available on Safaricom's website,” the company stated.
The framework details the eligible projects aimed at advancing environmental sustainability and green development in Kenya.
The issuance has a restricted selling scope, with the offer available exclusively to investors within Kenya.
All relevant documentation, including the Information Memorandum dated November 21, 2025, Pricing Supplements, and subscription forms, are available from the offices of the Joint Lead Arrangers and Placing Agents, as well as on Safaricom’s investor relations website and the dedicated bond subscription platform.
“The documents are governed by Kenyan law,” Safaricom confirmed.
Key dates for the issuance included the offer opening at 8:00 am on November 25, 2025 and closing at 5 pm on December 5, 2025.
Allotment was confirmed on December 3, with notification to investors following on December 9.
Payment for qualified institutional investors was completed on December 11, while CDSC account uploads were finalised on December 15, ahead of the official listing today, December 16, 2025.
The Green Notes are structured to allow investors to participate in supporting Kenya’s green economy while earning a competitive fixed return.
Safaricom emphasised that the initiative aligns with its Sustainable Finance Framework, which provides clear guidance on eligible projects that contribute to environmental sustainability.
Joint Lead Arrangers for the transaction are SBG Securities Limited, Stanbic Bank Kenya Limited, and Standard Chartered Bank Kenya Limited.
Placing agents include SBG Securities Limited, Stanbic Bank Kenya Limited, Standard Chartered Bank Kenya Limited, and Dyer and Blair Investment Bank Limited.
The sponsoring broker is SBG Securities Limited, while Image Registrars Limited serves as the Registrar, Calculation Agent, and Fiscal Agent.
MTC Trust and Corporate Services Limited acts as the Note Trustee, with legal counsel provided by Coulson Hamey LLP (trading as Bowmans, Kenya) and reporting accountants PricewaterhouseCoopers LLP, Certified Public Accountants.
Safaricom’s Green Notes launch reflects a growing focus on sustainable finance in Kenya, enabling investors to fund projects that meet environmental objectives while maintaining a strong financial return.
The company reiterated that net proceeds from the tranche will be used solely to finance or refinance eligible green projects, ensuring a direct impact on sustainable development within the country.
This milestone comes as Safaricom continues to expand its capital market activities, offering investors diversified instruments under the MTN Programme.
By listing the Green Notes on the NSE, Safaricom provides both institutional and individual investors with an opportunity to participate in a high-profile green finance initiative in Kenya, reinforcing the company’s commitment to sustainability and responsible investment.
