Safaricom has been included 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 telecommunication company is ranked seventh for its role in transforming how people in Kenya are paying for and accessing healthcare through M-TIBA which is a partnership with CarePay and PharmAccess
“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,” Safaricom CEO Peter Ndegwa said.
“M-TIBA has shown how, through partnerships, we can use the mobile phone to drive healthcare inclusion for millions of people.”
M-TIBA, which has over four 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.
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.
Other companies in the top 10 include Alibaba, PayPal, Zoom and Walmart.
The list is compiled in collaboration with the Shared Value Initiative, a consultancy that helps companies apply business skills to social problems.
In 2018, the mobile healthcare wallet disbursed about Sh205.12 million in medical payouts since it was launched in the country.