Safaricom PLC (SCOM) Earnings Call Transcript & Summary

Let me first, on behalf of the Board of Safaricom, warmly welcome Peter Ndegwa to the company and assure him of our full support as he steers the organization through this season and the next phase of growth.

Peter joins us at a very difficult time, and I'd like to reiterate that the Board, myself and everyone is offering him all the necessary support as we wait through this period. I have no doubt that although he's not a replica of myself, unfortunately, or Bob, he will do a great job and lead this company to greater heights. So Peter, we rely on you.

It's a great honor to be able to lead such a great organization. And I'm grateful to the Chairman and to the Board for their confidence and support in me and the rest of the business. Of course, this is my first official event, and I regret that we are not able to meet in person, as I would have liked to, due to the disruptions from the pandemic.

COVID-19 has affected all our lives and forced us to adopt new ways of living and working. Thankfully, we believe Safaricom is best placed to support our customers and navigate a path through this storm.

This pandemic arrived with very high uncertainty and unpredictability, but we must all do everything in our power to mitigate and to reverse its impact.

No one would have predicted what we, and indeed, the whole world is experiencing right now. But as it is, we must all do what we can to limit the spread of the virus.

We have faced difficult times before and have only emerged stronger.

It's an opportunity for us to run our organization remotely using our digital and data capability to support our customers and also our community during this period.

My Board will ensure 100% support to Peter and the management and staff as they adjust business plans to reflect the change of behavior in the customer and community due to COVID-19 pandemic. And as a business, we feel we are well placed to weather this storm.

We do hope that you are keeping safe and taking all precautions that are required to help manage this pandemic. And on behalf of the entire Safaricom family, we say Asanteni sana. Stay safe. And let's fight this pandemic.