Strong performance in first half of the financial year sees Ethiopia near break-even, while Kenya unit’s earnings before interest and tax surpass the KES 100 billion mark for the first time in the six-month reporting period Nairobi, 5th November 2026... 

Regional telco giant Safaricom has reported a strong half-year performance with Group service revenue rising by 13.1 percent to KES226.1 billion.

In an investor briefing on Thursday, Safaricom reported sustained growth in its Kenya and Ethiopia units, with Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) up by 27.5 percent to KES 129.2 billion.

During the half ended 30th September 2026, Group net income grew by 35.9 percent to KES 58.2 billion, demonstrating the company's resilience and continued execution of its strategic vision.

In Kenya, Safaricom delivered service revenue of KES 216.0 billion, representing growth of 11.3 percent jump.

Additionally, the business recorded Earnings Before Interest and Tax (EBIT) of KES 101.8 billion, surpassing the KES 100 billion mark for the first time in a six-month reporting period.

M-PESA unit

M-PESA revenue for the Group increased by 13.6 percent to KES 100.1 billion, crossing the KES 100 billion mark for the first time in a half-year period. 

Beyond financial performance, M-PESA continues to deliver greater value to customers, with 53 percent of all transactions and approximately 81 percent of Lipa na M-PESA and Pochi la Biashara merchant transactions and 63 percent of consumer transactions remained free/zero rated during the period, making financial services accessible and affordable for millions of Kenyans.

“We remain firmly focused on delivering our Vision 2030 ambition of becoming Africa's leading purpose-led technology company. Our performance reflects strong execution across our businesses, while Ethiopia's sustained growth and commercial momentum brings us closer to our target of achieving EBITDA break-even by the end of this financial year,” said Peter Ndegwa, Group CEO, Safaricom PLC.

In Ethiopia, the Nairobi Securities Exchange-listed company continued to record strong growth, with service revenue increasing by 71.6 percent to KES 10.6 billion. 

The business now serves 15.4 million three-month active customers, reflecting growing demand for digital connectivity and financial services.

During the six months under focus, Ethiopia contributed 17 percent of the Group's service revenue growth, reflecting its increasing contribution to the Group's overall performance. 

The business also made significant progress towards breaking even, with its loss before interest, tax, depreciation and amortisation (EBITDA) narrowing by 96.5 percent to KES 434.4 million.

“The results demonstrate the resilience of Safaricom's business and the strength of our strategy. Importantly, this growth remains anchored in our purpose of transforming lives, ensuring that the value we create is reflected not only in our financial performance but also in the opportunities we enable for our customers, shareholders and the communities we serve,” said Adil Khawaja, Chairman, Safaricom PLC.

Safaricom's financial performance continues to be underpinned by its purpose of transforming lives. During the half-year period, over 1.5 million lives were impacted through Safaricom and M-PESA Foundations’ education, health and economic empowerment programmes. The company also continued investing in youth development, with 60,000 young players participating in the fifth season of the Safaricom Chapa Dimba football tournament so far.

KEY HY PERFORMANCE HIGHLIGHTS - GROUP

• Service revenue: KES 226.1 billion, +13.1% YoY
• EBITDA: KES 129.2 billion, +27.5% YoY
• Net income: KES 58.2 billion, +35.9% YoY

KEY HIGHLIGHTS – SAFARICOM KENYA

• Service revenue: KES 216 billion, +11.3% YoY
• EBIT: KES 101.8 billion, +13.7% YoY
• M-PESA revenue: KES 100.1 billion, +13.6% YoY

KEY HIGHLIGHTS – SAFARICOM ETHIOPIA

• Service revenue: KES 10.6 billion, +71.6% YoY
• Three-month active customers: 15.4 million, +38.4%
• EBITDA loss: KES 434.4 million, narrowed by 96.5% YoY

IMPACT ON COMMUNITY – SAFARICOM KENYA

• Over 1.5 million lives transformed through Safaricom and M-PESA Foundations during HY27.
• 60,000 young players participating in Season 5 of Safaricom Chapa Dimba so far.