Safaricom Chief Executive Officer Peter Ndegwa speaking during the announcement of Full-Year results for the 2025/2026 Financial Year.
Nairobi, 7th May 2026 – Safaricom PLC on Thursday announced a record Group net income of Sh100 billion for the financial year ending March 2026, driven by strong growth in M-PESA, mobile data and improving performance from its Ethiopia operation, during a results announcement held at the Michael Joseph Centre in Nairobi.
The telecommunications giant said the results marked its strongest financial performance in 25 years, signaling a major turning point after years of heavy investment in Ethiopia and aggressive expansion across digital services.
Safaricom also declared a record dividend payout of Sh80.13 billion, equivalent to Sh2 per share, representing a 66.7 percent increase from the previous financial year.
Speaking during the announcement, Safaricom Chief Executive Officer Peter Ndegwa said the company had delivered one of its most successful years despite a difficult operating environment.
“This has been a year to be proud of. Kenya has delivered an outstanding performance, and Ethiopia has made a valuable contribution, together making this one of our strongest results yet,” said Ndegwa.
For the first time in the company’s history, Safaricom Kenya crossed the Sh400 billion mark in service revenue, posting Sh414 billion in earnings, a 10 percent increase from the previous year.
Earnings before interest and taxes rose by 15.3 percent to Sh182 billion, while net income grew by 24.7 percent to Sh119 billion.
Ndegwa said the company had now achieved three consecutive years of double-digit growth, powered by increased use of M-PESA, data services and digital products.
“This is our third year in a row of delivering double-digit growth,” he said.
The CEO noted that Safaricom had invested more than 1.2 billion US dollars in Ethiopia without increasing its debt levels, adding that the regional expansion was now beginning to pay off.
Safaricom Ethiopia emerged as one of the biggest highlights of the results announcement after posting strong customer growth and narrowing startup losses.
The company said its Ethiopia operation now serves 13.6 million customers, with network coverage reaching 60 percent of the population.
M-PESA Ethiopia has also expanded rapidly, attracting 5.2 million active customers and more than 70,000 merchants.
Ndegwa said the Ethiopian business was steadily moving toward profitability following improved regulations and stronger commercial momentum.
“We are building a business that is truly Ethiopian,” he said, adding that the company had significantly reduced expatriate staffing while investing in local talent and leadership.
Safaricom Board Chairman Adil Khawaja said the company’s latest results reflected resilience, discipline and long-term strategic planning despite global economic uncertainty and rising competition in the digital and fintech sectors.
“These results reflect a business that continues to demonstrate resilience and momentum,” said Khawaja.
“We have sustained strong growth in service revenue driven by M-PESA and data, while maintaining profitability despite continued investment in Ethiopia.”
Khawaja said the Board was encouraged by management’s focus on affordability, innovation and customer value during a period when many households continue to face economic pressure.
The chairman also highlighted Safaricom’s growing social impact, saying the company’s success goes beyond profits and shareholder returns.
“From the mzee in Kakamega receiving social support through M-PESA, to communities in Wajir accessing 4G connectivity for the first time, this is the real measure of Safaricom,” he said.
Back in Kenya, Safaricom continued expanding financial and digital inclusion through products targeting youth, small businesses and low-income customers.
The company revealed that 17.1 billion transactions under the M-PESA Kadogo initiative were processed free of charge, accounting for 58 percent of all M-PESA activity.
More than two million customers also joined the Ziidi Money Market Fund, while over 500,000 retail investors signed up to Ziidi Trader, allowing them to access stock market services directly through their mobile phones.
Safaricom also highlighted progress under its Citizens of the Future programme, which aims to build and refurbish 100 schools, sponsor 2,000 students annually and train up to 20,000 teachers with digital skills over the next five years.
As the company pushes to reposition itself as a technology-driven business, executives said artificial intelligence would play a central role in future operations.
Ndegwa said AI was already helping the company improve customer experience, strengthen fraud detection and optimize network operations across the Group.
“AI is fundamentally reshaping how we operate across the Group,” he said.
The company also addressed customer complaints linked to the rollout of its new unified app, particularly among diaspora and roaming users who experienced onboarding challenges.
Ndegwa apologized to affected customers and assured users that the platform had stabilized, with more than three million users already onboarded.
Safaricom leadership also welcomed the renewal of the company’s operating license for another 25 years by the Communications Authority of Kenya, describing it as a major milestone that gives the company long-term certainty and confidence for future investments.
“This is more than a regulatory milestone. It provides long-term certainty, the ability to invest with confidence, and the platform to continue delivering on our purpose,” said Khawaja.
Looking ahead, Safaricom said it will focus on strengthening M-PESA, accelerating artificial intelligence adoption, deepening digital services and steering Ethiopia toward profitability.
The company projects Group earnings before interest and taxes to grow to between Sh180 billion and Sh187 billion in the 2027 financial year as its Ethiopia business continues gaining momentum.
For Safaricom, the record-breaking results not only marked a strong financial year, but also signaled the beginning of a new chapter as the company seeks to transform itself into Africa’s leading purpose-led technology company by 2030.
