Safaricom grew Group service revenue to KES 414 billion in the year ended 31 March 2026, as strong performance in its home market more than compensated for the drag of currency reforms and market-repair timing in Ethiopia.
Kenya service revenue rose 10% to KES 400.8 billion, while Ethiopia contributed 12.5% to overall group service revenue growth, with subscriber numbers climbing to 13.6 million on a network now covering 60% of the population.
Group Net Income reached KES 100 billion for the period, with Kenya Earnings Before Interest and Tax growing 15.3% to KES 182.3 billion.
“We delivered strong performance, with acceleration in the second half, surpassing Group guidance with outstanding Kenya performance offsetting the impact of currency reforms and the timing of market repair actions in Ethiopia,” said Group CEO Peter Ndegwa.
The board moved to share the gains directly with investors, declaring a total dividend of KES 2 per share, a 66.7% increase on the prior year, comprising an interim payment of 85 cents and a recommended final dividend of KES 1.15, pending shareholder approval. The total payout amounts to KES 80.1 billion.
M-PESA underpinned much of Kenya’s outperformance, with active customers reaching 41 million and the platform generating KES 182.7 billion in revenue for the year. Total group customers stood at 71.6 million.
Ethiopia’s improving unit economics were a notable subplot to the headline numbers. The operation recorded narrowing start-up losses relative to the prior period, supported by 3,504 network sites. “We are beginning to see the benefits of scale in Ethiopia, with improving commercial momentum and narrowing start-up costs,” said Chairman Adil Khawaja.
Group CFO Dilip Pal said the company enters its second Vision 2030 year with execution momentum intact. “Ethiopia’s performance shows reduced losses relative to the previous period, greatly boosting Group performance,” he said.
Safaricom also reported that more than 4.4 million lives were reached through its Foundations during FY26, across education, health, and economic empowerment programmes in Kenya and Ethiopia.
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