M-Pesa and Data Drives Safaricom’s Growth as Profit Dips

Safaricom has announced its half year financial result for 2011/2012. The company’s profit after taxation decreased by 47.4% to stand at 4.0 Billion from 7.6 Billion last year. Active subscriber base grew by 8% to stand at 18.1 Million. Of the the subscribers 82.4% have M-Pesa are so are also registered as per the CCK requirement.

Generally Safaricom’s revenue grew by 5.3% to stand at 49.6 Billion in the last 6 months. Of that Data revenue grew by 30.4% to stand at 14.6 Billion while M-Pesa revenue grew by a massive 49.3% to stand at 7.9 Billion. There was a growth of 36.3% in broadband revenue which stands at 3.1 Billion in September 2011.

Some interesting stats from the Safaricom Half year results;

• M-Pesa agents now stand at 32,000 with the client base growing by 9.8% to stand at 14.9%
• Ksh 314 Billion ($3.15 bn) worth of M-Pesa transactions were moved in the six months
• 82.4% of Safaricom’s clients are now using M-Pesa
• 43% growth in Safaricom data clients to stand at 5.1 Million
• Mobile and Fixed Data revenue grew by 36.3% to stand at 3.1 Billion
• Safaricom controls 92% of Kenya’s data market according to CCK
• 52% of Safaricom network is now 3G active
• Safaricom rolling out 21Mbps 3G network but is also testing 42Mbps network in some areas
• Safaricom not pursuing the fibre-to-home ideas as it get some lessons over experience with the same
• Fixed data clients up by 92% to stand at 6,177 from 3,223 in September 2010