MTIBA Fortune Change The World List
Safaricom (NSE: SCOM) has been included in the 2020 Fortune Change the World List which recognises companies that have had a positive social impact through activities that are part of their core business strategy.
The telco is ranked 7th 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 recognises companies that are using their products and services to provide sustainable, shared value solutions to the communities they serve. M-TIBA has shown how, through partnerships, we can use the mobile phone to drive healthcare inclusion for millions of people”, said Peter Ndegwa, CEO, Safaricom.
M-TIBA which has over 4 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 Shared Value Initiative, a consultancy that helps companies apply business skills to social problems.
The full list of companies can be found here.
About Fortune Change the World
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.
How we choose the companies:
The Change the World list recognizes companies that have had a positive social impact through activities that are part of their core business strategy. As we assess nominees, among the factors that matter most are:
1. Measurable social impact
We consider the reach, nature, and durability of the company’s impact on one or more specific societal problems.
2. Business results
We consider the benefit the socially impactful work brings to the company. Profitability and contribution to shareholder value outweigh benefits to the company’s reputation.
3. Degree of innovation
We consider how innovative the company’s effort is relative to that of others in its industry and whether other companies have followed its example or partnered with it.
4. Corporate Integration
We consider how integral the initiative is to a company’s overall strategy, and how well that strategy is communicated through the ranks and elsewhere.