This archive report was first published on 1 November 2019.
On November 1, 2019, Safaricom reported a significant growth in its half-year net profit, reaching KSh 35.65 billion, a 14.4% increase from the previous year.
The growth was attributed to the strong performance of M-Pesa, which saw an 18.2% increase in revenue, driven by a 12.4% increase in one-month active M-Pesa customers to 23.61 million and a 7.8% growth in monthly usage per customer to 13 chargeable transactions per month.
Fixed data also registered a notable growth of 18.4%, contributing 3.7% of total service revenue during the period.
Mobile data revenue grew by 4%, accounting for 15.9% of the service revenue, with expectations of increased growth in the second half of the year due to increased penetration and usage.
However, voice revenue declined by 1.4%, and messaging revenue declined by 11% due to competition and migration to newer technologies.
Safaricom remains confident in achieving its full-year targets and strategies, maintaining its long track record of delivering shareholder wealth and prioritizing customer satisfaction.
