Safaricom CEO Peter Ndegwa. Photo/courtesy.
Safaricom PLC has secured approval from the Capital Markets Authority to establish a Sh40 billion Medium Term Note Programme, a move that positions the telco to raise long term funding as it expands its operations and sustainability projects.
The CMA approval was issued on 7 November 2025 under the Capital Markets Act and the Public Offers, Listing and Disclosures Regulations 2023. This allows Safaricom to issue a series of notes over time depending on market conditions and capital needs.
According to a public announcement issued by the Board of Directors, the MTN Programme will enable the company to issue a range of instruments, including green notes, social notes and sustainability notes in multiple tranches. The board said the structure gives the company flexibility to diversify its funding sources and align part of its debt strategy with environmental and social impact priorities.
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Safaricom plans to roll out the programme by issuing an information memorandum and a pricing supplement for the first tranche of notes, referred to as Tranche 1. These documents will set out the offer details, conditions and terms for investors participating in the public offer.
The company stated that “The issuance of Tranche 1 is subject to the determination of the final commercial terms of the offer and approval by the CMA of the corresponding pricing supplement.” The statement confirms that the final go ahead depends on market pricing and regulatory review.
Safaricom added that further details about the issuance of the first tranche will be communicated in due course as the company works with its appointed advisors and arrangers to complete the structuring process.
