In 2020, the risk of a global pandemic became a reality. As governments, businesses and societies survey the damage inflicted by the virus over the last year, strengthening strategic foresight is now more important than ever.

With the world more attuned to risk, we see an opportunity to leverage attention and find more effective ways to identify and communicate risk to decision-makers.

The immediate human and economic cost of COVID-19 is severe and threatens to scale back years of progress on reducing poverty and inequality and to further weaken social cohesion and global cooperation. Job losses, a widening digital divide, disrupted social interactions, and abrupt shifts in markets could lead to dire consequences and lost opportunities for large parts of the global population.

To manage the uncertainties, our business keeps reinventing its processes and systems in order to ensure that we are adaptable to the ever-changing environment.

As a business we continue to proactively monitor the economic environment and implement measures to cushion the business and our customers by offering enhanced value propositions to our customers and having contingencies in our business plans.

We use an integrated governance risk and compliance system to record and track risks and controls, which provides a unified view of our risks and controls.

Safaricom’s risk management is described in greater detail under Corporate Governance, on this page of this report.

This heat map depicts residual risk after considering mitigating controls that have been implemented.