62 INTRODUCTION OUR BUSINESS OUR MATERIAL TOPICS STAKEHOLDER ENGAGEMENT 2018 SUSTAINABLE BUSINESS REPORT DELIVERING VALUE TO OUR REGULATORS On a regular, ongoing basis, we deliver value to our regulators by complying with the obligations they have given us and through communicating and engaging with them on the issues that arise. In response to the SDG strategy, we now ensure that all collaborations and discussions with regulatory bodies support the creation and expansion of resilient infrastructure development in Kenya, based on inclusive, sustainable models that foster innovation. Some of the specific issues on which we have engaged our regulators during the reporting period included: the new framework for measurement of Quality of Service (QoS) introduced by the CA; the draft Broadband Spectrum Policy published by the Ministry of ICT; our progress regarding the new 2G sites commissioned by the CA as part of the USF project; and the new Child Online Protection Strategy Framework being developed by the CA and the Ministry of ICT. (Please see the Business Ethics, Governance, Risk and Regulation section on page 28 of this report for further detail regarding these specific engagements.) SHAREHOLDERS Our shareholders expect us to remain a high-performing company that balances delivering consistent and sustainable financial returns against ethical and environmentally responsible operations. As a reflection of this, they expect us to retain a stable, experienced and proven management team and to uphold the very highest standards of corporate governance and practices. OUR RELATIONSHIP WITH OUR SHAREHOLDERS Our shareholding structure changed during the year and is currently comprised of the Government of Kenya (35 per cent), Vodacom (35 per cent), Vodafone (5 per cent) and free float (25 per cent). S D G 9 S D G 1 7 FY18 FY17 FY16 FY15 Shareholding Structure (%) 0 100 80 60 40 20 YEAR SHAREHOLDING (%) Vodafone* Government of Kenya Vodacom* Freefloat * Company holds an indirect interest in Safaricom through a wholly-owned subsidiary, Vodafone Kenya Ltd (VKL).