M-Pesa, Ethiopia operations drive Safaricom's revenue surge

(L) Safaricom Group CFO and Chief Innovation Officer Dilip Pal, CEO Peter Ndegwa and Safaricom Ethiopia CEO Wim Vanhelleputte during the release of the 2026/27 half-year results. [Wilberforce Okwiri, Standard]

Safaricom has reported a 72 per cent increase in net profit to Sh50.35 billion for the half-year that ended in September 2026, an increase from Sh29.18 billion over a similar period last year, with Ethiopia operations continuing to improve performance.

While releasing the financial results yesterday, the company attributed the growth to increased revenues from its mobile money service M-Pesa, which accounted for nearly half of its earnings, as well as its internet provision business.