Safaricom in Kenya Secures $137M Sustainability Loan
Safaricom, a leading telecommunications company in Kenya, has secured a sustainability loan worth $137 million. The loan, granted by the European Investment Bank (EIB), will enable the company to expand its sustainable network infrastructure across the country.
EIB’s Dedicated Support to Kenyan Telecom
The European Investment Bank has shown its support for Kenya’s digital future by approving a $137 million loan for Safaricom. This significant financial aid will be used to enhance sustainable network infrastructure, which includes the upgrade of 2G and 3G sites to 4G coverage across the country. The move is part of EIB’s commitment to support digital transformation in Africa.Safaricom’s Sustainability Commitment
Safaricom has pledged to utilize the loan to improve its network coverage and speed, aiming to provide high-speed internet access to more Kenyans. The company has also committed to ensuring the sustainability of its operations by powering its network with renewable energy. This initiative is part of Safaricom’s broader commitment to sustainable development and aligns with the United Nations’ Sustainable Development Goals.Potential Impact on Kenya’s Digital Landscape
The investment could significantly reshape Kenya’s digital landscape, providing more Kenyans with access to high-speed internet. This would boost digital inclusivity, bridging the digital divide, and fostering economic growth. The move is also expected to contribute to the country’s digital economy by promoting digital literacy and innovation.The $137 million loan secured by Safaricom from the EIB marks a significant step towards enhancing the sustainability of Kenya’s digital infrastructure. The move not only promises to expand high-speed internet access to more Kenyans but also demonstrates Safaricom’s commitment to sustainable development and the use of renewable energy. The investment is expected to positively impact Kenya’s digital economy and promote digital literacy and innovation.