Douglas Mwiti 
Safaricom Plc has secured approval from the Capital Markets Authority (CMA) to issue notes worth Kshs. 40 billion, unlocking the largest Medium-Term Note (MTN) Programme ever approved in Kenya.
This monumental milestone signals surging investor confidence and highlights the NSE as a powerful engine for mobilizing long-term capital at competitive rates.
It underscores a rapidly maturing market where ambitious companies can raise substantial funding to fuel expansion, innovation, and national economic development.
Safaricom will tap the market with a diverse suite of instruments, including green bonds, social notes, and sustainability-linked notes that will be listed on the NSE, setting a new benchmark for innovation and scale in Kenya’s capital markets.
The MTN Programme will cements Kenya’s position as a rising powerhouse in Africa’s capital-raising landscape.
In June 2025,The Central Depository and Settlement Corporation (CDSC) had successful immobilized of 16 billion Safaricom PLC shares by Vodafone Limited, marking a significant move towards fully dematerialized securities.
CDSC said this transaction has resulted in the total number of Safaricom PLC shares held in electronic format within the Central Depository System (CDS) rising from 24 billion to 40 billion representing almost all of the company’s total issued shares dematerialized.
