This archive report was first published on 1 November 2019.
Safaricom has reported a 14.4% increase in its half-year net profit to Sh35.65 billion, marking the eighth consecutive year of growth for the telco.
According to the company's financial results, M-Pesa revenue grew by 18.2% to Sh41.97 billion, while mobile data revenue increased by 4% to Sh19.78 billion.
However, voice service revenue declined by 1.4% to Sh46.87 billion, and messaging revenue dropped by 11% to Sh8.6 billion.
"Revenue growth for the half year to September 2019 was 5.3 percent driven by robust performance across M-Pesa and fixed data and strong customer growth offsetting decline in the traditional revenue streams and soft performance on mobile data," said Safaricom's outgoing acting chief executive Michael Joseph.
During the period, Safaricom's service revenue was up 5.3% to Sh124.32 billion.
