Safaricom Half-Year net profit rises to Sh31.5 billion
SEE ALSO :HF Group forecasts FY decline in profitsSafaricom Chief Executive Officer Bob Collymore said, “We continue to leverage the power of mobile technology and diversify our sales mix with M-PESA now accounting for 30 percent of total service revenue, up 3 points year on year. We are excited about the future prospects of portfolio expansion and diversification.” Total service revenue rose by 7.7 percent to Sh118 million resulting from M-Pesa transactions whose revenues increased to 49.9 percent year-on-year from 0.9 percent in 2017 contributing 30 percent of service revenue. “During the first six months of the year, M-PESA was the main driver of growth, contributing 64% of service revenue growth, further accelerating displacement of traditional voice and messaging services,” Bob Collymore said. Voice data which contributes 16.5 percent of service revenue increased slightly by 1.4 percent to Sh48 billion marking a 10.8 percent YoY while bundle revenue contribution increased from 61 percent to 74 percent in three years. New businesses contributed 27.2 percent of M-Pesa revenue from 15.8 percent in a period of three years.