Safaricom's KES 15B MTN

In this episode recorded on December 1, 2025, and hosted by Ramah Nyang, we unpack Safaricom’s KES 15B Medium Term Note. We cover green bonds, pricing, liquidity in the market, and use of proceeds rom the MTNWe are joined by:* Silha Rasugu — Emerging & Frontier Capital LLP* Gregory Waweru — SBG Securities* Birju Sanghrajka — Standard CharteredSubscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:02:06 Understanding the Green Bond0:06:51 Pricing and Market Conditions00:09:14 Liquidity in the Bond Market00:13:44 Creating an Efficient Capital Structure00:19:05 Advantage of the MTN over Vendor Financing00:24:46 Impact of the Debt on Dividend Policy00:28:14 Future of Corporate Bonds in Kenya00:34:27 Conclusion and Final Thoughts Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe