Safaricom’s half-year profits up 52 per cent to Sh42.8 billion as Ethiopia loss narrows
M-Pesa revenue surged 14 per cent to Sh88.1 billion, while fixed service and IoT income rose 9.5 per cent to Sh9.8 billion.
Safaricom’s half-year profits up 52 per cent to Sh42.8bn as Ethiopia loss narrows
Safaricom Plc has reported a 52.1 per cent jump in group net income to Sh42.8 billion for the half-year period ending September 30, buoyed by strong Kenyan operations and reduced losses in Ethiopia.
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The telco reported a service revenue of Sh199.9 billion, having expanded 11.1 per cent.
Earnings before interest and tax (EBIT) surged 54.5 per cent to Sh65.2 billion.
Of this, the Kenyan unit delivered a 22.6 per cent rise in net income to Sh58.2 billion, supported by a 9.3 per cent increase in service revenue to Sh194 billion.
The unit’s Earnings before interest and tax (EBIT) grew by 13.1 per cent to Sh89.5 billion, driven by continued growth in mobile data, M-Pesa and fixed services.
Additionally, M-Pesa revenue surged 14 per cent to Sh88.1 billion, while fixed service and IoT income rose 9.5 per cent to Sh9.8 billion.
In Ethiopia, where operations were launched in late 2022, the telco reported a 20.1 per cent reduction in losses to Sh15.5 billion, even as the business continued to face pricing and currency reform challenges.
“This is a strong set of results, and a solid start to our Vision 2030 strategy cycle, maintaining our FY26 guidance. We remain focused on executing our strategy through segment-led execution and integrated solutions,” said Safaricom Group CEO Peter Ndegwa.
He noted that the company’s dual-market growth underscores its ability to scale sustainably while navigating diverse regulatory landscapes.
Beyond financial performance, Safaricom reaffirmed its commitment to social impact and community investment.
The firm recently unveiled the ‘Citizens of the Future’ programme, targeting 500 schools for infrastructure upgrades, 10,000 scholarships and over 56,000 digital literacy beneficiaries over the next five years.
“It has been 25 years of transforming lives, through innovation and community empowerment, a journey powered by purpose and collaboration. We have transformed the lives of over 22 million Kenyans through the Safaricom and M-PESA Foundations. We remain anchored in purpose, driving sustainable growth and positive change,” Ndegwa added.
Furthering its regional commitment, Safaricom also launched the Safaricom Ethiopia Foundation in July, investing over ETB 650 million in projects focused on education, youth, and economic empowerment.
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