This strategic move is aimed at investing in and supporting innovative tech startups in Kenya and beyond.

With a strong commitment to nurturing local talent and driving digital innovation, Safaricom seeks to play a pivotal role in propelling the growth of the technology sector and fostering entrepreneurial success in the region.

The two new subsidiaries introduced by Safaricom are:

– Safaricom Ventures: Safaricom Ventures will function as the company’s corporate venture arm, focusing on investing in early-stage tech startups.

Through this subsidiary, Safaricom aims to identify and back promising entrepreneurs with cutting-edge ideas that align with its core values of digital transformation and customer-centric innovation.

– Safaricom Innovation Lab: The Safaricom Innovation Lab is an incubation center designed to nurture startups through their initial stages of development.

The lab will offer a conducive environment for entrepreneurs to experiment, develop prototypes, and refine their business models.

The lab will have state-of-the-art facilities, expert guidance, and collaborative spaces to foster creativity and idea-sharing among budding entrepreneurs.

The introduction of Safaricom Ventures and the Safaricom Innovation Lab brings a wealth of opportunities for the startup community in Kenya and beyond.

Safaricom’s decision to invest in tech startups through Safaricom Ventures and the Safaricom Innovation Lab is a significant leap towards nurturing innovation and driving technological advancements in Kenya and beyond.