Safaricom’s profit soars to Sh35.7 billion, eyes Ethiopia

Safaricom PLC CEO (Interim) Michael Joseph. [Wilberforce Okwiri, Standard]

Safaricom’s half-year profit to September 30, soared by 14.4 per cent despite the harsh economic times, cementing its position as the region’s most profitable company.

The telco, which is eyeing the Ethiopian market, reported a net profit of Sh35.65 billion for the first six months compared to Sh31.2 billion over a similar period in 2018.