Telecommunications giant Safaricom has announced an impressive financial performance for the year ending March 31, 2025, reporting a net income of KSh 69.8 billion.
This significant achievement is primarily attributed to the robust growth witnessed in its mobile money services, notably M-Pesa, and its expanding broadband division, underscoring the company's strategic focus on these key areas.
Safaricom's core Kenyan operations demonstrated exceptional strength, recording a total revenue of KSh 381.2 billion.
This figure represents a healthy 11.4% increase compared to the previous financial year, reflecting sustained customer engagement and successful service innovation.
Furthermore, the Kenyan business saw its Earnings Before Interest and Taxes (EBIT) climb by a commendable 13% to KSh 15.1 billion, highlighting efficient operational management and profitability.
Across the broader group, total revenue surged by 12.9% to reach KSh 390.1 billion. This growth was realised despite persistent macroeconomic challenges within Kenya and a particularly demanding business environment in the nascent Ethiopian market.
During a recent investor briefing, Safaricom CEO Peter Ndegwa articulated a confident outlook on the company's trajectory.
“We are extremely pleased with what we have been able to achieve as a group despite the macroeconomic headwinds in Kenya and a challenging business environment in Ethiopia. However, Ethiopia remains a significant opportunity for our continued growth,” Ndegwa stated, stressing the strategic importance of the Ethiopian venture despite its current complexities.
According to management, the group's overall expansion was propelled by several strategic pillars. These included a refined approach to customer segmentation, enabling more tailored service offerings, and active participation in public sector digitisation initiatives.
Significant investments in cutting-edge new technologies and a sophisticated leveraging of data analytics also played a crucial role, allowing Safaricom to gain deeper insights into customer behaviour and deliver more effective and responsive services across its expansive customer base.
The results reflect a company adept at navigating complex market dynamics while capitalising on core strengths and future growth avenues.
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