Safaricom has been ranked seventh in the 2020 Fortune Change the World list which recognizes companies that have had a positive social impact through activities that are part of their core business strategy.
The list, which was compiled by Fortune in partnership with Shared Values Initiative, assessed the companies in four key areas. These include measurable social impact business results, degree of innovation, and corporate integration.
“Safaricom’s M-Pesa service lets its users more than half of whom lack bank accounts, send and receive money digitally via feature phones. Now it’s aiming for a similar inclusion revolution in healthcare. In 2015 Safaricom and Carepay launched M-Tiba, which offers phone-based billing, payments, and insurance claims and helps users save for expenses. It now reaches 4.7 million people in Africa,” Fortune said on its website.
This year’s top position in Fortune’s Change the World list was dedicated to the pharmaceutical companies who are collaborating to develop a COVID-19 vaccine. The second spot went to e-commerce platform Alibaba while digital payments firm Paypal rounded up the top three. Other companies in the top 10 include Nvidia, BlackRock, Regeneron Pharmaceuticals, Zoom and Walmart.
“We are honoured to be included in this global list that recognizes companies that are using their products and services to provide sustainable, shared value solutions to the communities they serve. M-TIBA has shown how, through partnerships, we can use the mobile phone to drive healthcare inclusion for millions of people”, said Peter Ndegwa, CEO, Safaricom.
M-TIBA which has over 4 million users enables people to save, send, receive and pay for medical treatment through a mobile health wallet on their phone. The solution has previously won the shared value category at the 2017 Loeries Awards and received the FT/IFC Transformational Business Award in Sustainable Development.
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