Safaricom PLC has announced a 52.1% surge in its group net income to KES 42.8 billion for the six months ending September 30, 2025.
The strong results were driven by the consistent profitability of its Kenya operations and significantly reduced losses from its new, high-growth subsidiary in Ethiopia.
Safaricom Kenya, the group’s core profit engine, recorded a 22.6% growth in net income to KES 58.2 billion. This performance was anchored by a 14% increase in M-PESA revenue, which reached KES 88.1 billion.
In a major strategic milestone, Safaricom’s mobile data revenue in Kenya (KES 44.4 billion) surpassed its voice revenue (KES 41 billion) for the first time. This shift, confirmed by company executives, underscores a fundamental change in customer behaviour and Safaricom’s success in pivoting from a traditional telco to a data-led technology company.
The group’s bottom line was substantially boosted by its Ethiopian operation, which, while still loss-making, is rapidly scaling. Safaricom Ethiopia narrowed its net loss by 20.1% to KES 15.5 billion. The subsidiary showed explosive top-line growth, with service revenue surging 136% to KES 6.2 billion and its customer base growing 83.7% to 11.1 million users.
Despite overall growth, CEO Peter Ndegwa noted that the Ethiopian market continues to face challenges with pricing and currency reforms. The company continues to invest heavily in the new market, injecting a further KES 26.4 billion into the unit during the period.
“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 Peter Ndegwa, Group CEO, Safaricom.
Alongside the financial results, Safaricom highlighted its continued community investment. The company recently launched the “Citizens of the Future” program, a KES 30 billion, five-year M-PESA Foundation initiative set to upgrade infrastructure in 500 schools and provide 10,000 scholarships. In Ethiopia, the newly launched Safaricom Foundation has invested over ETB 650 million in community projects.
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