Safaricom’s DMTN Bond Oversubscribed by 175%, Becomes Kenya’s Biggest Green Bond

Safaricom PLC  has marked a major milestone with the successful listing of the first tranche of its Domestic Medium-Term Note (DMTN) on the Nairobi Securities Exchange (NSE). The issuance received applications totaling KES 41.6 billion, representing an oversubscription of 175.7%, making it the largest bond ever issued by Safaricom and Kenya’s largest Green Bond.

The strong response reflects high investor confidence in Safaricom’s strategy and long-term vision. The listing ceremony featured remarks from key figures including Frank Mwiti, CEO of NSE; Kiprono Kittony, NSE Chairman; Daniel Warutere, CMA Representative; and Joshua Oigara, CEO of Stanbic Bank Kenya, who highlighted the importance of collaboration and investor trust in Safaricom’s initiatives.

Safaricom’s Group CFO, Dilip Pal, noted that proceeds from the bond will fund projects aimed at enhancing operational efficiency, expanding renewable energy initiatives, and advancing sustainability across the company’s network.

The highlight of the event was a bell-ringing ceremony, attended by Safaricom’s CFO, NSE leadership, and Capital Markets Authority representatives, officially marking the bond’s listing. Safaricom expressed gratitude to investors, regulators, and partners, emphasizing that their support reinforces the company’s commitment to sustainable growth, innovation, and long-term value creation for the communities it serves.