Tech heavyweight Safaricom has posted 11.2 percent increase in total revenue to KES388.7 billion ($3 billion) for the trading period ending 31st March 2025.

In disclosures made on Friday, May 9th, Safaricom announced that its net income soared by 10.8 percent to close the year at KES69.8 billion.

“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.

He added, "In the next five years, we will protect and grow the core business, accelerate our transition into a technology company, boost and evolve our Ethiopia business and unlock value through innovative delivery models."

Shareholders of Safaricom will be receiving a total of KES48.08 billion in dividend 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 telco said that the strong results were achieved through sustained innovation across the TechCo’s product portfolio, expansion into Ethiopia market, and continued support to communities by investing more than KES18 billion in education, health, environment and 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.

The group Earnings Before Interest and Taxes also reported an impressively growth at 29.5 percent to Kes104.1 billion. Ethiopia market contributed almost 10 percent 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 KES20.6 billion over the year in review.

In Kenya, service revenue grew by 10.5 percent to KES364.3 billion. M-PESA, which turned 18 last year, delivered KES161 billion, contributing 44.2 percent of Kenya’s service revenue. The YoY growth of 15.2 percent 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 percent to KES185.2 billion, contributing 50.8 percent of service revenue. This was driven by mobile data revenue which grew by 15.2 percent to KES72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6 percent to KES80.8 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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