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Safaricom net income jumps 10.8pc to Sh69.8bn, first in East and Central Africa

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Safaricom CEO Peter Ndegwa. [Wilberforce Okwiri, Standard]

Safaricom has reported a 10.8 per cent rise in net income to Sh69.8 billion for the year ending Monday, March 31, as total revenue surged past $3 billion (Sh390 billion) - the first time any company has hit that level in East and Central Africa.

The company said the growth was driven by innovation across products, expansion in Ethiopia and Sh18 billion invested in community projects over five years.

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