September 30, 2020
We're excited to announce that Safaricom PLC and CarePay have been listed in the top 10 of Fortune's Change the World list. Every year, Fortune, a renowned American magazine, compiles a prestigious list of companies making a positive impact on the world. Safaricom, renowned for their revolutionary role in the large-scale introduction of mobile money in Kenya, has been included for the introduction of the digital platform M-TIBA, which was developed together with CarePay and PharmAccess. The platform gives millions of Africans access to health insurance. M-TIBA, CarePay and Safaricom are mentioned alongside companies such as Zoom, Alibaba, PayPal and BlackRock.
Fortune's website writes:
"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 startup 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’s Change the World list is built on the premise that the profit motive can inspire companies to tackle society’s unmet needs. The 2020 list, our sixth, stresses a crucial corollary: No business succeeds alone. Collaboration among companies, even among rivals, is a common thread, from the effort to make “green” steel, to the campaign to close America’s racial wealth gap, and, above all, in the race for a COVID-19 vaccine. As we face unprecedented collective challenges—a global pandemic, climate change, profound income inequality cooperation has become a business superpower. Speaking of cooperation: As always, we’ve selected our list in collaboration with our expert partners at Shared Value Initiative, a consultancy that helps companies apply business skills to social problems."
For the complete list, click here.