The ‘2020 Fortune Change the World list’ is out and Safaricom, the only African company, is on the top 10 list.
This is the second time an African company has appeared on the top 10 list since it was first published in 2015. The first African company on the list was, again Safaricom, which took the top position in 2015.
The list recognizes companies that have had a positive social impact through activities that are part of their core business strategy.
Among the factors that were of most importance during the selection include:
- Measurable social impact – The reach, nature, and durablity of the company’s impact on one or more specific societal problems
- Business results – The benefit the socially impactful work brings to the company. Profitability and contribution shareholder value outweigh benefits to the company’s reputation
- Degree of Innovation – How innovative the company’s effort is relative to that of others in its industry and whether other companies have followed its example or partnered with it
- Corporate Integration – How integral the initiative is to a company’s overall strategy, and how well that strategy is communicated through the ranks and elsewhere.
#ChangeTheWorld companies for 2020:
1) The Vaccine Makers
Explore the full list here: https://t.co/UElxU0HtRG
— FORTUNE (@FortuneMagazine) September 22, 2020
Below is the list of top 25 companies from the list:
- The Vaccine Makers
- Regeneron Pharmaceuticals
- Serum Institute of India
- Grupo Energia Bogota
- Bank of America
- Minotiry-Owned Banks
- Henry Schein
- Ping An Insurance
- Jio Platforms
- AB InBev
- Abbot Laboratories
Safaricom has undoubtedly helped open up the mobile payment space on the African continent, and the world, with recent efforts aimed at growing its C2B business portfolio seeing remarkable results.
More than half of M-PESA users do not operate bank accounts, with the majority of transactions happening via feature phones.
The ranking affirms the fact that African companies, especially in the digital payments space, can truly make a difference on the continent.
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