Nairobi, December 9, 2025… Safaricom has recorded overwhelming investor interest in the first tranche of its Medium-Term Note, drawing applications worth KES 41.6 billion against a KES 15 billion target. The uptake pushed the offer to an impressive 175.7 percent over-subscription.
Safaricom will now take up the full KES 5 billion greenshoe, raising total allocations for the tranche to KES 20 billion, the maximum approved for this phase. The strong demand means the company will refund KES 21.4 billion to investors according to the terms set out in the Information Memorandum.
Chief Executive Officer Peter Ndegwa said the sharp appetite shows confidence in Safaricom’s performance and long-term strategy. He noted that the company made a conscious move to diversify its funding sources and the outcome confirms the strength of that decision.
Proceeds from the green bond will fund projects that cut environmental impact, improve operational efficiency and support business growth. Safaricom plans to expand use of renewable energy, including rolling out more solar power across base stations, and upgrade systems to manage power better and lower energy consumption.
Peter said the decision to take up the greenshoe allows more investors to share in Safaricom’s growth. He thanked investors, transaction advisers, the Capital Markets Authority and all partners who supported Tranche 1 of the Medium-Term Note Programme.
The green notes will list and start trading on the Nairobi Securities Exchange on Tuesday, December 16.
The five-year fixed-rate note is priced at 10.4 percent and will pay interest every June and December. Investors are also attracted by its fully tax-exempt return, which boosts the effective yield.
