Safaricom pledges to unlock funds for sustainable development through corporate alliance

Safaricom is one of 30 global corporate heavyweights that will work together to free up trillions of dollars of private sector funds for sustainable development, in conjunction with the United Nations.

The Kenyan telecoms giant’s leader will join the Global Investors for Sustainable Development (GISD) Alliance, convened by UN secretary-general António Guterres and co-chaired by Allianz CEO Oliver Bäte and Leila Fourie, CEO of the Johannesburg Stock Exchange.

The alliance also includes heads of the Bank of America, Citigroup, ICBC, Infosys, Investec, Santander, UBS and other prominent international corporations. Safaricom CEO Michael Joseph said: We are honored to be joining this alliance that will help scale up investment for sustainable development.

“Given the current state of the world in terms of growing inequalities, rising carbon emissions, growing global hunger, rising unemployment and social discontent, business leaders must play a larger role in ensuring their companies take the lead in societal transformation through business processes and services and not just through philanthropy.”

Over the next two years, the alliance aims to use their expertise, influence and business to stimulate long term investment in development and speed up progress towards achieving the sustainable development goals laid out by the UN in 2015.