The Government of Kenya has secured the following undertakings from Vodacom, insofar as possible in its capacity as a shareholder of the Company, to —
No employee redundancies are declared by the Company other than in the ordinary course of business;
Support the continued existence and operation of each of the Safaricom Foundation and M-Pesa Foundation, charitable foundations established by the Company; and
Prior to supporting any expansion outside Kenya (excluding any existing operations outside of Kenya), consult with the GOK in respect of such expansion, prior to such expansion, provided that the GOK’s consent shall not be required for VKL’s support of any expansion.
The Chairman and the Chief Executive Officer of the Company shall at all times be citizens of Kenya;
There are no changes to the executive committee of the Company as constituted on the Signature Date without the consent of the Chief Executive Officer; and
Top ten Safaricom shareholders and the number of shares they own
There are no changes to the corporate brand of the Company, including, without limitation, any change to the “Safaricom” brand, name, trademarks, logos or associated get-up;
There are no significant changes to local suppliers within the next three (3) years following the Signature Date, other than in the ordinary course of business; and
All trustees of the Safaricom Foundation and the M-Pesa Foundation or any future foundations established by the Company shall be citizens of Kenya and all funds of such foundations shall be utilised for projects in Kenya.
No action or decision contemplated in paragraphs (a) to (f) (inclusive) shall be undertaken, implemented, recommended, approved or proposed (whether by the Board, any committee of the Board, any shareholder of the Company, or management) without the prior written consent of the GOK.
