Safaricom PLC announced Friday an 11.2% growth in total revenue to Sh388.7 billion (US$3 billion) for the financial year ending 31st March 2025, with net income also accelerating by 10.8% to hit Sh69.8 billion.
Following these results, Safaricom will pay out Sh48.08 billion in dividend 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.
The strong results were achieved through sustained innovation across the TechCo’s product portfolio, expansion into Ethiopia, and continued support to communities by
investing more than Sh18 billion in Education, Health, Environment & Economic Empowerment initiatives over the last five years.
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 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 reflect 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 impressively growth at 29.5% to Sh104.1 billion.
Ethiopia contributed almost 10% to the group’s revenue, with management noting that the business has moved past the peak investment phase and expected to turn to profitability by 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 2.8 million customers are actively using M-PESA services in Ethiopia, transacting over Sh20.6 billion over the year in review.
In Kenya, service revenue grew by 10.5% to Sh364.3 billion.
M-PESA, which turned 18 last year, delivered Sh161 billion, contributing 44.2% of Kenya’s service revenue.
The YoY growth of 15.2% was driven by diversification beyond payments, with a growing focus on wealth management and credit solutions.
Kenya’s connectivity business also grew by 6.5% to Sh185.2 billion, contributing 50.8% of service revenue.
This was driven by mobile data revenue which grew by 15.2 % to Sh72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6% to Sh80.8 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.
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