Safaricom PLC has posted impressive revenue growth, with mobile data revenue rising by 15.2 per cent to Sh72.9 billion for the period ending March 2025.
The telco attributed the growth to increased 4G uptake. Meanwhile, voice revenue defied global trends, growing by 1.6 per cent to Sh80.8 billion.
Overall, Safaricom reported that Kenya’s connectivity business grew by 6.5 per cent to Sh185.2 billion, contributing 50.8 per cent of the service revenue for the period under review.
“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,” Safaricom PLC CEO Peter Ndegwa said during an investor briefing on May 9, 2025.
“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.”
The group’s earnings before interest and taxes (EBIT) also grew impressively by 29.5 per cent to Sh104.1 billion.
Ethiopia contributed nearly 10 per cent to the group’s revenue.
Management noted that the business has moved past its peak investment phase and is expected to turn profitable by the financial year 2027.
In terms of subscriber numbers, Safaricom Ethiopia more than doubled its 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 during the reporting period.
This period also marked the conclusion of Safaricom’s five-year strategy cycle, during which the company transformed from a telecommunications provider into a technology company, driven by accelerated tech adoption and a sharpened focus on digitising Kenya and Ethiopia.
“We have delivered excellent group performance with double-digit
growth on both the top and bottom lines. This strong set of results reflects
the dedication of our teams, the loyalty of our customers, and the strength of
our strategy,” Ndegwa said.
