SAFARICOM PLC KES 40 Billion Domestic Medium Term Note Programme

The Project Shujaa Domestic Medium Term Note Programme is a KES 40 billion debt issuance by Safaricom PLC aimed at financing strategic investments and operations. It allows the company to issue Notes in tranches with fixed or floating rates, depending on market conditions. Proceeds will fund network expansion, digital infrastructure, debt refinancing, and general corporate needs. The Notes are unsecured and unsubordinated obligations of Safaricom PLC. They rank equally with other unsecured debts, except those preferred by law. The programme enhances Safaricom’s financial flexibility and access to long-term capital.

The Notes may be listed on the Nairobi Securities Exchange (NSE) under the Fixed Income Securities Market Segment (FISMS) for trading by investors. Unlisted Notes may also be issued but will target sophisticated investors only. The issuance complies with regulations from the Capital Markets Authority (CMA), NSE, and CDSC. SBG Securities, Stanbic Bank Kenya, and Standard Chartered Bank Kenya serve as Joint Lead Arrangers and Placing Agents. They will manage structuring, placement, and investor relations. The programme strengthens market confidence and supports Safaricom’s sustainable growth strategy.

Offer Memorandum Pricing Supplement

Countdown to Close Date

Time left
Minimum: 10,000
Incremental Amount: 10,000
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Issue Size (KES)

40,000,000,000

Yield

15.60 %

Price

1 KES

How to Accept the Offer

01

Online application

To accept the offer on this application portal:

1. Read the terms and conditions of the Offer here.

2. Ensure you have a Valid CDSC Account if not consult your broker/agent to open

3.Once you have the CDSC, click on Accept Offer.If you had made an application before you can enter the details requested to add another application or click New Application for a fresh application.

4. Once you have submitted the form with application details, you can make a deposit then uploaded proof of payment documents (EFT or Bank Transfers).This will be verified by the Data Processing Agent. Look out for updates on the status of your acceptance, which will be sent to your registered email address or through text message to the mobile number you indicated in the electronic application.

SAFARICOM PLC KES 40 Billion Domestic Medium Term Note Programme
02

Completing a physical Form

You can also submit a physical Form by following the steps outlined below;

Offer

1.Download the Form, or visit the offices of the Authorised Accepting Agents or Image Registrars - all of whom will be able to provide a physical copy of the Form.

2. Complete the Form following the instructions therein and submit the completed Form together with the required supporting documents to any of the Authorised Accepting Agents.

Timetable and Key Events

The Offer will start on 2025-11-30 00:00:00 and ends on 2025-12-20 00:00:00

Following the close of the Offer period, SAFARICOM PLC will publish the final results of the Offer and calculate the entitlements due to accepting Notes holders.



Frequently Asked Questions

Project Shujaa refers to Safaricom PLC’s Domestic Medium Term Note Programme of up to KES 40 billion, issued to support the company’s strategic initiatives and capital expenditure requirements.

The Notes are issued by Safaricom PLC, a public limited company incorporated in Kenya on 3 April 1997, registered under number C.8/2002.

The Programme has a total size of up to Kenya Shillings Forty Billion (KES 40,000,000,000) in aggregate principal amount.

The proceeds will be used to finance Safaricom’s strategic projects, refinance existing debt, and support general corporate purposes as outlined in the Information Memorandum.

The Joint Lead Arrangers and Placing Agents are SBG Securities Limited, Stanbic Bank Kenya Limited, and Standard Chartered Bank Kenya Limited.

The minimum subscription amount is KES 100,000, with additional investments in multiples of KES 50,000 as specified in the Pricing Supplement.

Interest is payable in arrears on specified Interest Payment Dates through the Central Depository and Settlement Corporation (CDSC) to Noteholders’ registered accounts.

No. The Notes are unsecured obligations of the Issuer and rank pari passu with all other unsecured and unsubordinated obligations of Safaricom PLC.

Yes. Listed Notes will be admitted to the Fixed Income Securities Market Segment (FISMS) of the Nairobi Securities Exchange (NSE). Unlisted Notes will only be available to sophisticated investors.

The Notes and all related contracts are governed by and construed in accordance with the laws of Kenya.