Nairobi:Safaricom PLC has announced a significant 35.9% rise in its Group net income, reaching Sh58.2 billion for the six months ending September 30, 2026. This growth is attributed to the strong performance of its telecommunications and financial services in Kenya and Ethiopia.
According to Kenya News Agency, the company experienced a 13.1% increase in Group service revenue, totaling Sh226.1 billion, and a 27.5% rise in Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) to Sh129.2 billion. Safaricom’s operations in Kenya continued to deliver robust financial results, with service revenue climbing 11.3% to Sh216 billion. The Kenyan business also reported a milestone in Earnings Before Interest and Tax (EBIT), surpassing Sh100 billion for the first time in a six-month period, reaching Sh101.8 billion.
The company’s mobile financial services platform, M-PESA, contributed significantly to growth, with a 13.6% increase in group revenue to Sh100.1 billion. The platform’s expansion has made 53% of transactions free or zero-rated, and a substantial portion of merchant and consumer transactions were offered at zero cost. In Ethiopia, Safaricom saw service revenue growth of 71.6% to Sh10.6 billion and an expansion of its customer base to 15.4 million active users. The Ethiopian subsidiary also made strides toward profitability, reducing its loss before interest, tax, depreciation, and amortisation by 96.5%.
Safaricom’s CEO, Peter Ndegwa, emphasized the strategic execution and commercial momentum in Ethiopia as key factors in the company’s performance. Meanwhile, Chairman Adil Khawaja highlighted the resilience of Safaricom’s business model and its commitment to transforming lives through technological and financial services.
Beyond financial achievements, Safaricom continued its investment in community development through its corporate social responsibility initiatives. The Safaricom and M-PESA Foundations reached over 1.5 million people with programmes focused on education, healthcare, and economic empowerment. Additionally, the company remained active in youth development through its Chapa Dimba football tournament, involving 60,000 young players.
Safaricom reiterated its dedication to sustainability and gender parity, aiming to achieve net-zero carbon emissions by 2050 and 5050 gender parity in senior management roles. The company serves over 71.6 million customers in Kenya and Ethiopia, supporting approximately 1.13 million jobs directly and indirectly.
