Safaricom has recorded revenue growth of 11.2 per cent to Sh388.7 billion for the financial year ended March 31, 2025, driven by its expansion into Ethiopia, M-PESA growth, and digital transformation.
Net income also rose by 10.8 per cent to Sh69.8 billion during the same period.
CEO Peter Ndegwa said on Friday that the results are not only a reflection of past performance but also a foundation for the telco’s vision of becoming Africa’s purpose-led tech firm by 2030.
“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.
The strong performance has led the company to pay out Sh48.08 billion in dividends to shareholders for the year. It will add a final dividend of 65 cents per ordinary share to the interim dividend of 55 cents already paid.
Other strategies that supported revenue growth include ongoing innovation in the tech product line, the foray into Ethiopia, and sustained community support through investments of over Sh18 billion in health, education, environmental, and economic empowerment programmes over the past five years.
Additionally, the group’s earnings before interest and taxes rose by 29.5 per cent to Sh151 billion. Ethiopia, which currently has a customer base of 8.8 million and over 3,141 operational sites, contributed nearly 10 per cent to group revenue.
On the service income side, the company recorded a 10.5 per cent increase to Sh364.3 billion. M-PESA, which marked its 18th anniversary last year, contributed Sh161 billion, accounting for 44.2 per cent of Kenya’s service revenue. Diversification beyond payments and a growing focus on wealth management and credit solutions were key drivers of the 15.2 per cent year-over-year growth.
Kenya’s connectivity business also expanded by 6.5 per cent to Sh185.2 billion, making up 50.8 per cent of service revenue. Due to increased 4G usage, mobile data revenue rose by 15.2 per cent to Sh72.9 billion, contributing significantly to this year’s profit growth.
Meanwhile, voice revenue defied global trends and rose by 1.6 per cent to Sh80.8 billion.
“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,” Ndegwa said.
Key highlights – Safaricom, including Ethiopia business
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- Group Total Revenue 11.2% to Sh388.7bn.
- Service Revenue 10.8% to Sh371.4bn.
- Voice revenue 1.8% to Sh81.9bn
- M-PESA revenue 15.1% to Sh161.1bn.
- Mobile data revenue 16.5% to Sh78.5bn
Net Income
- Safaricom Group excluding minority interest +10.8% to Sh69.8bn
- Safaricom Kenya, +12.7% to Sh95.5bn
- Safaricom PLC Operating Free Cash Flow + 15.8% to Sh148.9bn.
