Safaricom’s Revenue Tops 3 Billion Dollars, A First In The Region

Safaricom PLC (NSE: SCOM) has announced an 11.2% growth in total revenue to KES 388.7 billion ($3 billion) for the financial year ended 31^st March 2025, with net income also accelerating by 10.8%  to hit KES 69.8 billion.

Following these results, Safaricom will pay out KES 48.08 billion in dividends to its shareholders for the year, adding a final dividend of 65 cents per ordinary share to the interim dividend of 55 cents per ordinary share already paid out on or about March 2025.

The strong results were achieved through sustained innovation across TechCo’s product portfolio, expansion into Ethiopia, and continued community support by investing more than KES 18 billion in Education, Health, Environment & Economic Empowerment initiatives over the last five years, impacting over 13 million lives.

The reporting period also marked the end of Safaricom’s five-year strategy cycle, which saw the company transform from a telecommunication business to a Technology Company through accelerated technology adoption and a greater focus on digitizing Kenya and Ethiopia.

“We have delivered excellent group performance with double-digit growth on both top and bottom line. This strong set of results reflects the dedication of our teams, the loyalty of our customers, and the strength of our strategy,” said Dr. Peter Ndegwa, Safaricom PLC CEO.

The group Earnings Before Interest and Taxes also reported an impressive growth of 29.5% to Kes104.1 billion. Ethiopia contributed almost 10% to the group’s revenue, with management noting that the business has moved past the peak investment phase and is expected to turn to profitability by the financial year 2027.

On the subscriber numbers, Safaricom Ethiopia has more than doubled the customer base to 8.8 million with over 3,141 sites in operation. A total of 2.4 million customers are actively using M-PESA services in Ethiopia, transacting over KES 20.6 billion over the year in review.

In Kenya, service revenue grew by 10.5% to KES 364.3 billion. M-PESA, which turned 18 last year, grew 15.2% YoY to KES 161.1 billion, contributing 44.2% of Kenya’s service revenue. The growth in M-PESA was driven by diversification beyond payments, accelerated consumer and business payments, with a growing focus on wealth management and credit solutions.

Kenya’s connectivity business also grew by 6.5% to KES 185.2 billion, contributing 50.8% of service revenue. This was driven by mobile data revenue, which grew by 15.2 % to KES 72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6% to KES 80.8 billion.

“This year’s results are more than a reflection of past performance; they are a foundation for our vision of becoming Africa’s leading purpose-led tech company by 2030. We are entering a new phase of growth, and we will continue harnessing innovation for social good and shaping the future of Kenya, Ethiopia, and beyond,” Dr Ndegwa noted.

Key Highlights

Group Total Revenue 11.2% to KES 388.7 Bn.

Service Revenue 10.8% to 371.4 Bn.

Voice revenue 1.8% to KES 81.9 Bn

M-PESA revenue 15.1% to KES 161.1 Bn.

Mobile data revenue 16.5% to KES 78.5 Bn.

Net Income

Safaricom Group excluding Minority Interest +10.8% to KES 69.8 Bn

Safaricom Kenya, +12.7% to KES 95.5 Bn

Safaricom PLC Operating Free Cash Flow + 15.8% to KES 148.9 Bn.

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