Safaricom’s half-year profits tipped to swell by 11pc

Safaricom Chief Financial Officer Sateesh Kamath (left) hands over a dummy key of the 3 bedroom apartment to Salma Salim Mohamed, the 4th winner of Lipa Na M-Pesa promotion. [File, Standard]

Analysts have projected a 10.9 per cent jump in Safaricom’s 2021 half-year profits chiefly driven by fixed service and mobile data revenues.

This is despite a 4.3 per cent projected drop in M-Pesa revenues for the first half of the telco’s financial year that ends in March 2021, although they are expected to rebound in the second half after the end of as zero-rated transactions, according to a report by KCB Capital.