Safaricom Half-Year Profit Up 52% to Sh42.8 Billion as Customer Base Hits 60 Million in Silver Jubilee Year

Safaricom has posted a strong half-year performance, with net income rising 52.1% to Sh42.8 billion and service revenue growing 11.1% to nearly Sh200 billion, driven by solid growth across Kenya and improving performance in Ethiopia.

The results come as the telco celebrates its 25th anniversary — a milestone Chief Executive Officer Dr Peter Ndegwa described as a testament to Safaricom’s continued innovation and impact on lives across the region.

From just 17,000 subscribers in 2000, Safaricom now serves over 50 million customers in Kenya and more than 10 million in Ethiopia.

“This year marks our Silver Jubilee — 25 years of transforming lives through innovation and empowerment,” said Dr Ndegwa during the 2025/2026 half-year financial results announcement in Nairobi.

To mark the milestone, Safaricom has launched three initiatives: Shangwe @25, a promotion where 25 customers will become millionaires and each receive Sh250,000 to fund a community project; the Green Box Initiative, offering festive gifts including devices and livestock to households across Kenya; and Citizens of the Future, a long-term education programme designed to upgrade schools and improve learning outcomes nationwide.

The Kenyan business delivered strong results, with service revenue up 9.3% to Sh194 billion and net income rising 22.6% to Sh58.2 billion. In Ethiopia, operating losses narrowed by 20.1% to Sh15.5 billion, reflecting improved commercial traction and growing customer adoption. The Ethiopian unit now has over 10 million active customers and nearly 3,300 network sites, equivalent to half of Kenya’s footprint. Group earnings before interest and tax (EBIT) climbed 54.5% to Sh65.2 billion, signaling what Dr Ndegwa termed a “solid start” to Safaricom’s Vision 2030 strategy.

Safaricom’s performance was anchored by investments in next-generation technology platforms, notably Fintech 2.0, a new cloud-native system that enhances speed, security, and fraud prevention across M-PESA services. The platform supports shared wallets, split payments, tap-to-pay features, and real-time monitoring, positioning M-PESA for the continent’s fast-evolving digital economy.

Artificial Intelligence (AI) is also becoming central to Safaricom’s operations. Dr Ndegwa said AI now powers smart pricing, customer service chatbots, network optimisation, and fraud prevention — helping the company offer faster, more personalised and secure experiences.

Kenya’s economy remained stable during the period, with GDP growth at 5%, inflation easing to 4.6%, and a stable shilling backed by stronger foreign exchange reserves.

However, Dr Ndegwa noted that global trade disruptions and fiscal pressures continue to weigh on consumer spending. In Ethiopia, the telco continues to engage with regulators to address pricing and currency reform challenges while maintaining long-term investments in network and community development.

Looking ahead to the second half, Safaricom plans to deepen its segment-led strategy, expand access to affordable 4G+ smartphones, and grow digital financial services beyond payments to include credit, savings, and insurance. It also intends to extend the reach of its fixed broadband business through new pay-as-you-go models aimed at low-income households.

“We are committed to a strong year in both Kenya and Ethiopia,” said Dr Ndegwa. “As we celebrate 25 years, our focus remains on accelerating and scaling tech solutions that transform lives and shape Africa’s digital future.”