Safaricom PLC has reported its strongest performance since going public in 2008, posting a 52.1% rise in net profit to Ksh42.8 billion for the half-year ending September 30, 2025.
The impressive earnings surge marks the telecom giant’s biggest profit jump in 17 years, attributed to growth in its Kenyan operations and accelerating gains in its Ethiopian venture.
According to the company’s financial results released on Thursday, November 6, 2025, net income from Kenyan operations hit Ksh58.2 billion, fuelled by a 9.3% increase in service revenue to Ksh194 billion.
M-PESA, Safaricom’s mobile money platform, continued to dominate, expanding to Ksh88.1 billion, while mobile data revenue surpassed voice revenue for the first time.
In Ethiopia, Safaricom reported a 136% increase in revenue to Ksh6.2 billion, supported by strong subscriber growth to 11.1 million.
However, the unit remained in the red, recording a 20.1% reduction in losses to Ksh15.5 billion, as infrastructure and network expansion investments continued.
Also Watch: Safaricom granted license to operate M-Pesa in Ethiopia
Safaricom Group CEO Peter Ndegwa lauded the company’s continued momentum in Ethiopia, describing it as one of Africa’s most promising growth frontiers.
“The Ethiopia business continues to demonstrate encouraging momentum as we deepen our presence and relevance in one of Africa’s most promising markets,” he said.
“The steady expansion of our network strengthened partnerships with local agents and distributors, and a clear focus on financial inclusion are driving strong customer engagement. We are seeing positive shifts in brand perception and ecosystem collaboration, which give us confidence that Safaricom Ethiopia is on a sustainable path to scale.”
