Safaricom Plc has reported a 9.1% growth in revenue for its fixed internet business to reach Ksh 7.4 billion for the six months to September 2023. The telco revealed this during the release of its 2023/2024 Half Year Results on Thursday.
Safaricom attributes the the growth in fixed internet business which includes fibre to the home to customer expansion.
As of September 2023, home fibre customers had increased by 29%, totalling 223,000, compared to 173,000 in a similar period last year.
Safaricom rolled out home fibre back in 2014 in response to rising consumer demand for online streaming services. Although the telco was late to the party, the service has grown to be one of its biggest offerings connecting thousands of homes across the country.
The service is currently available in Nairobi, Nakuru, Mombasa, Kisumu, Eldoret, Thika, Bungoma, Kitale, Nyeri and Nanyuki among other towns. The firm has set a goal of connecting one million Kenyan households to full-fibre links as part of a planned ramp-up of its wireline business.
In a previous interview on our 24Bit podcast, Stephen Maina, Senior Manager of Safaricom Home Fibre Products and Services revealed that the telco was working towards the service available to more users in Kenya. (You can listen to the podcast below)
‘’We have worked so hard to make sure all homes are connected’’ he said.
Recent stats from the Communication Authority of Kenya (CA) also reveal that Safaricom still holds the top spot as an Internet service provider (ISP). Today, with 427,003 fixed internet data subscribers (Both home and enterprise) the company has a 36.2% market share followed by Jamii Telecom Limited (JTL).
CA in its sector statistics report also notes that the majority of fixed data/Internet subscribers in Kenya are on speeds greater than/equal to 2Mbps and less than 10 Mbps. Notably, the report says 60.2 per cent of fixed data/Internet subscribers were connected through fibre technology.
Below are Safaricom fixed data packages and prices:
|Package||FIBRE SPEEDS||MONTHLY COST||FAIR USAGE POLICY (FUP) LIMIT||SPEEDS AFTER FAIR USAGE||SECURE NET (AT NO COST)|
Recently, Safaricom also announced that increased 5G Wi-Fi volumes for Home Consumer packages that offer 400GB for 3,499/-, 800GB for 5,999/- and 1500GB for 9,999/-. 5G Wi-Fi for Business offers unlimited packages starting at Kes 4,000 for 10 Mbps.