Safaricom PLC (NSE: SCOM) has announced an 11.2% growth in total revenue to KES 388.7 billion ($3 billion) for the financial year ended 31st March 2025, with net income rising by 10.8% to KES 69.8 billion. This milestone makes Safaricom the first company in the region to achieve such revenue figures, underscoring the success of its shift from a telecommunications provider to a purpose-led technology company.
The strong performance was driven by sustained innovation across Safaricom’s product portfolio, expansion into Ethiopia, and a commitment to social impact, with over KES 18 billion invested in education, health, environmental sustainability, and economic empowerment initiatives over the past five years—benefiting more than 13 million lives. These efforts marked the conclusion of Safaricom’s five-year strategy to evolve into a technology-driven enterprise, accelerating digital transformation in Kenya and Ethiopia.
Following the impressive results, Safaricom will distribute KES 48.08 billion in dividends to shareholders, including a final dividend of 65 cents per share, supplementing the interim dividend of 55 cents per share paid in March 2025.
Group Earnings Before Interest and Taxes (EBIT) surged by 29.5% to KES 104.1 billion, with Ethiopia contributing nearly 10% of total revenue. Safaricom Ethiopia has moved past its peak investment phase and is expected to achieve profitability by the 2027 financial year. The Ethiopian operation more than doubled its customer base to 8.8 million, supported by over 3,141 operational sites. Additionally, 2.4 million customers actively used M-PESA, transacting KES 20.6 billion during the year.
In Kenya, service revenue grew by 10.5% to KES 364.3 billion. M-PESA, which celebrated its 18th anniversary last year, recorded a 15.2% year-on-year increase to KES 161.1 billion, accounting for 44.2% of Kenya’s service revenue. This growth was fueled by diversification into wealth management and credit solutions, alongside increased consumer and business payments.
The connectivity business in Kenya also saw a 6.5% rise to KES 185.2 billion, contributing 50.8% of service revenue. Mobile data revenue grew by 15.2% to KES 72.9 billion, driven by higher 4G adoption, while voice revenue defied global trends with a 1.6% increase to KES 80.8 billion.
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Dr. Peter Ndegwa, Safaricom PLC CEO, attributed the strong performance to the dedication of employees, customer loyalty, and a robust corporate strategy. “These results are not just a reflection of past achievements but a foundation for our vision of becoming Africa’s leading purpose-led tech company by 2030,” he said. “As we enter a new growth phase, we remain committed to leveraging innovation for social good and shaping the future of Kenya, Ethiopia, and beyond.”
Key Financial Highlights
- Group total revenue rose by 11.2% to KES 388.7 billion.
- Service revenue increased by 10.8% to KES 371.4 billion.
- Voice revenue grew by 1.8% to KES 81.9 billion.
- M-PESA revenue climbed by 15.1% to KES 161.1 billion.
- Mobile data revenue expanded by 16.5% to KES 78.5 billion.
- Net income (excluding minority interest) rose by 10.8% to KES 69.8 billion.
- Safaricom Kenya’s net income increased by 12.7% to KES 95.5 billion.
- Operating free cash flow grew by 15.8% to KES 148.9 billion.
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The company’s sustained growth and strategic investments position it as a key player in Africa’s digital transformation journey.
