Safaricom launches first tranche of fixed green notes seeking to raise Ksh15B
By Kiprono Keileb, November 25, 2025Safaricom PLC has announced a major financial move that is already stirring excitement among investors after unveiling the first tranche of its Fixed Rate Green Notes valued at up to Ksh15 billion.
The telecommunications giant says the money raised will go directly into supporting green and sustainable projects across the country, marking one of the most significant corporate-backed environmental financing efforts in Kenya.
In a statement through an X post on Tuesday, November 25, 2025, Safaricom said it had officially launched the first tranche under its Domestic Medium Term Note Programme, which has a total capacity of up to Ksh40 billion.
“We are pleased to announce the launch of the first tranche of Fixed Rate Green Notes under our Domestic Medium Term Note Programme (MTN Programme) of up to KES 40 Billion,” the company stated in a statement.
The company explained that this first issuance aims to raise Ksh15 billion, with an additional Ksh5 billion greenshoe option to accommodate extra investor demand. Safaricom highlighted that the five-year notes will offer a fixed annual interest rate of 10.40 per cent, a rate that is already drawing strong interest from the market.
“This inaugural issuance seeks to raise up to KES 15 Billion, with a KES 5 Billion greenshoe option, at a fixed interest rate of 10.40% per annum and a tenor of 5 years,” the statement reads
Safaricom also emphasised that all funds raised through the notes will be channelled strictly into environmentally focused projects. In the statement, the company noted that proceeds will exclusively finance and/or refinance Eligible Green Projects.
“Proceeds will exclusively finance and/or refinance Eligible Green Projects under our Sustainable Finance Framework, reinforcing our commitment to environmental stewardship,” the statement reads
In an attached public notice, Safaricom confirmed that the Capital Markets Authority approved the issuance on November 7, 2025, clearing the way for what is expected to be one of Kenya’s most closely watched corporate debt offers. The notice stated that the offer will be open to the public, with a minimum subscription amount of Ksh50,000.
It also detailed key offer dates, including the closing date, allotment, and eventual listing on the Nairobi Securities Exchange.
Allocation of proceeds to Tranche I notes
The company added that the Tranche I Notes will allocate 100 per cent of their net proceeds to green projects, as set out in its Green Bond Framework published on Safaricom’s website. The public notice reinforced this by stating that the issuer shall allocate 100% of the proceeds of the Tranche I Notes.
“The issuer shall allocate 100% of net proceeds of the Tranche I Notes to refinance and/or refinance the portfolio of Eligible Green Projects as may be further defined in Safaricom’s Green Bond Framework available on Safaricom’s website,” the notice reads
Investors will be able to buy the notes through multiple banks and investment firms listed as collecting agents, including KCB, NCBA, Stanbic, Cooperative Bank, ABSA, DTB, Family Bank, and I&M Bank. The Notes will be listed on the Nairobi Securities Exchange on December 9, 2025.
With the combination of attractive returns and a strong sustainability angle, financial analysts say Safaricom’s latest move is poised to draw significant interest from both retail and institutional investors looking to diversify and support green transformation in Kenya