Safaricom Invites Kenyans and Global Investors to Buy Into Its KSh 15 Billion Tax-Free Green Notes
Safaricom has officially opened subscriptions for its KSh 15 billion Fixed Rate Green Notes, marking the first phase of its larger KSh 40 billion Medium-Term Note (MTN) Programme.
This issuance is one of the biggest green bond offers in Kenya so far, giving both retail and institutional investors a chance to invest in environmentally focused projects while earning attractive, tax-free returns.
The telecom giant said it intends to use the money raised to finance and refinance projects that support its sustainability goals.
These include energy-efficient operations, climate-friendly infrastructure, and other green initiatives highlighted in Safaricom’s Sustainable Finance Framework.
The company added that the programme also helps diversify its funding sources while strengthening its long-term financial strategy.
Interest Rate and Tax Benefits
Safaricom’s green notes come with a fixed annual interest rate of 10.4%, and what makes the offer even more appealing is that the interest earned is fully tax-exempt under Kenyan law.
This means investors will receive their full returns without any deductions. The company emphasized that the tax exemption applies unless future changes in the law say otherwise.
The Capital Markets Authority (CMA) approved Safaricom’s overall KSh 40 billion MTN Programme on November 7. The firm has also included a greenshoe option of up to KSh 5 billion, allowing the company to take in more money if investor demand surpasses the initial KSh 15 billion target.
Why Safaricom Is Raising the Funds
Safaricom explained that this green bond issuance is part of its broader mission to prioritize sustainability in its operations and investments.
The funds will support long-term projects such as expanding connectivity across Kenya, upgrading fixed broadband services, and enhancing financial service platforms.
Safaricom CEO Peter Ndegwa said the green bond reflects the company’s commitment to doing business responsibly while supporting environmental conservation.
He noted that adopting innovative financing methods not only boosts investor confidence but also ensures Safaricom’s continued growth is aligned with positive environmental and social impact.
How to Invest in Safaricom’s Green Notes
Kenyans and other interested investors can participate with a minimum investment of KSh 50,000, with additional contributions in multiples of KSh 10,000. Applications can be made through several convenient channels:
- USSD: *483*810#
- Online portal: safaricombond.e-offer.app
- Licensed stockbrokers
SBG Securities, Stanbic Bank Kenya, Standard Chartered Bank Kenya, and Dyer and Blair Investment Bank are serving as the joint lead arrangers and placing agents for the offer.
Safaricom said the allotment results will be released on December 9, and the green notes will be listed at the Nairobi Securities Exchange (NSE) on December 16.
Comparison With Recent Local Corporate Note Programmes
Earlier, East African Breweries PLC (EABL) received approval from the Capital Markets Authority to raise up to KSh 20 billion through its own Domestic Medium-Term Note Programme. EABL’s first tranche targeted KSh 11 billion at an interest rate of 11.8% per year for a five-year period.
The brewer’s note offer ran from October 27, 2025, to November 10, 2025, and it was heavily oversubscribed. Investors offered KSh 16.7 billion, and EABL confirmed that it would take up the entire amount due to the overwhelming demand.
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