Safaricom Plc, Kenya’s largest telecommunications provider, terminated 118 employees in the fiscal year ending 31 March 2026 after internal fraud investigations, while also strengthening anti‑financial crime safeguards across its network and M-PESA mobile‑money ecosystem.
The sustainability report released on 27 October 2026 shows that the 118 dismissals represent an increase from 113 in the previous year. The company also issued three disciplinary warnings – up from none – and referred 14 cases to law‑enforcement agencies, double the 7 referrals recorded in FY25. Proactive monitoring and analytics helped recover roughly $7.34 million (Ksh 953 million) linked to inflated agent commissions.
Regulatory pressure has intensified after Kenya was placed on the Financial Action Task Force (FATF) grey list, prompting Safaricom to tighten its anti‑financial crime framework throughout its telecoms and mobile‑money operations.
Group CEO Peter Ndegwa said the report demonstrates the company’s commitment to creating societal value. “Our 2026 report reflects the value created across our business, communities and the environment, while outlining the work ahead: responding to rising energy demand, reducing value‑chain emissions and strengthening digital trust,” he explained.
What fraud vectors did Safaricom identify?
In FY26, the firm identified physical social engineering as the primary fraud method targeting subscribers. To counter this, technical upgrades such as security APIs under Daraja 3.0 and real‑time transaction monitoring under Fintech 2.0 were deployed to detect and prevent identity theft.
How does the company handle suspected fraud?
Suspicions can arise from customer complaints or alerts generated by Safaricom’s fraud‑management system. Once flagged, a manager or the Ethics and Compliance team conducts an investigation and decides whether to pursue informal resolution or a formal disciplinary route. Investigation records are kept in password‑protected spreadsheets accessible only to the Ethics and Compliance team. Final reports are compiled manually, then passed to Human Resources for action. A disciplinary committee then determines the appropriate outcome – warning, dismissal, or referral to law‑enforcement agencies.
What other sustainability milestones were reported?
Beyond anti‑fraud efforts, Safaricom expanded its solar‑powered telecom tower network to 2,028 sites, including around 800 battery and rectifier upgrades. The company also achieved 100 % recycling of network waste and 97 % recycling of solid waste, while retaining a CDP ‘A’ rating for climate‑change disclosures for the second year running.
The workforce grew to 5,648 employees in FY26, with near‑perfect gender balance (2,844 male and 2,804 female). Permanent staff composition was 49.9 % female and 50.1 % male; women hold 33.3 % of executive leadership roles and 43.9 % of senior‑management positions.
Safaricom now serves 71.56 million customers across Kenya (57.9 million) and Ethiopia (13.6 million). Its mobile‑money platform, M‑PESA, has surpassed 41 million users and supports 70,000 merchants.