KENYA · LISTED COMPANY
Key Facts
- —The country Kenya is an East African democracy of over 50 million people, and Safaricom is its largest company.
- —What happened Safaricom dismissed 118 employees in a fraud crackdown in the year to March 2026, up from 113, Business Daily reported on 27 October 2026.
- —The source The figures come from Safaricom’s 2026 Sustainable Business Report, which also lists 14 cases referred to law enforcement, up from 7.
- —The recovery The company recovered KSh953 million (about US$7.3 million) linked to inflated agent commissions, through monitoring and data analytics.
- —The owners Vodacom of South Africa holds 55% of Safaricom, and Vodafone, which controls Vodacom, has receipts that trade on Nasdaq.
- —What it means for you M-Pesa moved KSh41.7 trillion (about US$321 billion) in the year, so internal fraud controls matter to investors and to US firms that rely on it.
- —Still open The report does not say how much money the dismissed staff took, or which of the 118 cases ended in court.
Safaricom, Kenya’s biggest company and the operator of the M-Pesa mobile-money service, dismissed 118 employees in a fraud crackdown in the year to March 2026. That is up from 113 the year before, Business Daily reported on Tuesday 27 October 2026.
For American investors and firms that do business through M-Pesa, the number shows a company policing its own staff as the platform grows. The fraud crackdown also brought back KSh953 million (about US$7.3 million) tied to inflated agent commissions.
What the Safaricom Report Shows
Safaricom published the figures in its 2026 Sustainable Business Report, which covers the financial year that ended in March 2026. Business Daily, a Nairobi newspaper owned by Nation Media Group, says the number of fraud dismissals has now risen for four years in a row.
Alongside the 118 dismissals, the report records 3 disciplinary warnings, where the year before it recorded none. It also lists 14 cases passed to law enforcement, double the 7 of the previous year, TechMoran reported.
Where the Money Was Lost
The largest recovery came from inflated agent commissions. Agents are the small shops that take cash in and pay it out for M-Pesa customers, and they earn a fee on each transaction.
Safaricom says monitoring and analytics helped it recover KSh953 million (about US$7.3 million) linked to that fraud. TechMoran notes the report does not tie the full amount to staff misconduct.
How the Fraud Crackdown Works
The report says Safaricom recovered 46% of reported fraud losses, and that fraud incidents fell 82% against a target of 90%. Staff misconduct that Kenyan outlets have listed in past years includes SIM-swap help, leaking customer data and breaching company procedures.
Fraud was the most common concern raised through the company’s ethics hotline, and the fraud crackdown sits on top of an ethics programme. That programme reached 98% of employees, the same share as the year before.
The Scale of M-Pesa
M-Pesa handled about 46.4 billion transactions worth KSh41.7 trillion (about US$321 billion) in the year, with 41.7 million customers active in the last 30 days. That scale is why the fraud crackdown matters.
Social engineering, where criminals trick customers into handing over codes or money, was the leading threat to customers, the report says. The company also names fraud powered by artificial intelligence as a growing challenge.
Who Owns Safaricom
Safaricom is listed on the Nairobi Securities Exchange, and South Africa’s Vodacom holds 55% after buying a 15% state stake. An appeal over that sale is still pending, as the Rio Times reported in its earlier story on the Vodacom stake.
Readers can find the company’s share data and background in the Rio Times Safaricom profile. Safaricom also launched a new overdraft for small traders on Thursday 22 October, covered in the Rio Times report on Fuliza Ya Pochi.
What It Means for US Readers
Vodafone, which controls Vodacom and therefore Safaricom, has American depositary receipts that trade on Nasdaq, so Safaricom’s governance reaches US portfolios. A rising count of dismissals can signal tighter controls or wider abuse, and the report does not settle which.
US companies that sell goods or services in Kenya often take payment through M-Pesa, which makes the platform’s integrity a business risk. Travelers who use M-Pesa should treat unexpected calls asking for codes as fraud, because social engineering is the main threat the company names.
What Is Not Known
Safaricom has not said how much money the 118 dismissed employees took, or how many of them face criminal charges. The report gives 14 referrals to law enforcement but no list of cases or outcomes.
It is also unclear how much of the KSh953 million (about US$7.3 million) recovered came from staff and how much from outside agents. The company has not said whether the fraud crackdown will shrink the number of dismissals next year.
More: Kenya news in English, every day from The Rio Times.
Frequently Asked Questions
How many Safaricom employees were dismissed for fraud?
Safaricom dismissed 118 employees over fraud in the financial year to March 2026. That is up from 113 the year before.
How much money did Safaricom recover?
Safaricom recovered KSh953 million (about US$7.3 million) linked to inflated agent commissions. The report also says it recovered 46% of reported fraud losses.
What is M-Pesa?
M-Pesa is Safaricom’s mobile-money service, which lets people in Kenya send money, pay bills and shop from a phone. It handled about KSh41.7 trillion (about US$321 billion) in the year to March 2026.
Who owns Safaricom?
Vodacom, a South African mobile group, holds 55% of Safaricom after buying a stake from the Kenyan government. Vodacom is controlled by Britain’s Vodafone.
Does this affect US investors?
Vodafone’s receipts trade on Nasdaq, so Safaricom’s results and governance reach US holders indirectly. The dismissals show active controls, but the report gives no loss total.
Sources: Business Daily, Safaricom sacks 118 staff in fraud crackdown, 27 October 2026; TechMoran, Safaricom Dismissed 118 Employees in Fraud Cases, 27 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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