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Safaricom Launches Third Annual Sustainability Report(AllAfrica Via Acquire Media NewsEdge) Safaricom has launched its third sustainability report. The report provides a consolidated view of the telecom firm's strategy and operations, reinforcing its vision of being a responsible business in areas that include network quality, customer experience, energy security, environmental performance regulatory issues among others. According to McKinsey's Global Survey 2014, the number of companies that have implemented sustainability reporting has in the last four years doubled. The report found that more firms seek to align sustainability with the overall vision of their companies. Bob Collymore, CEO, Safaricom noted that the report is influenced by the United Nations Global Compact, the International Financial Reporting Standards as well as the Capital Markets Authority's (CMA) Corporate Governance Framework. "This is an expression of our ongoing commitment to sustainability. We have developed a sustainability vision anchored on a Future Generations Charter that will see our vision to transform lives transcend challenges to ensure our business strategies are aligned with global best practices for sustainable corporate growth," said Collymore. This year marks the first time that Safaricom will roll out its sustainability strategy to its partners, suppliers and others within its ecosystem, marking an industry first. In line with changing business trends, the concept of sustainability is moving beyond its initial scope which focused on reducing a company's energy footprint. Programs now embrace a broader sustainability agenda that encompasses other segments of the business, ultimately resulting in more efficient organizations. For Safaricom, this strategy has taken shape in eight key areas. In the area of network quality, Safaricom has revitalizing its systems and optimize service delivery in order to decrease downtime. Collymore noted that the company has intensified its focus on initiatives that will bolster its systems and infrastructure as well as improve the quality of interaction with our customers. In line with that objective, Safaricom will soon release a 4G network provision that allows faster internet access and hence give better customer experience. Safaricom Board Chairman Nicholas Ng'ang'a noted that although sustainability was an area of growing interest, it was yet to be fully understood and appreciated. "The regulatory environment in which we operate is increasingly complex. Embedding evolving regulatory best practice in our business requires proactive involvement in policy formulation, understanding policy objectives, balancing the interests of different stakeholders and managing the costs of compliance," Ng'ang'a said. "We have developed a charter to guide our interactions and ensure that we build constructive, respectful, open and transparent relationships with all regulators while we remain compliant with all regulation and applicable laws,' he added. The report was compiled by Safaricom in conjunction with an independent assurance provider who provided oversight on material sustainability indicators, refined the company's carbon footprint calculations and compiled the report in accordance with the new G4 reporting guidelines of the Global Reporting Initiative. Related stories Maximizing Safaricom's potential House team clears Safaricom security tender award Safaricom makes full year profit of KSh. 1,300 per subscriber Copyright CIO East Africa. Distributed by AllAfrica Global Media (allAfrica.com). |