Safaricom Reports 11% Profit Growth, Declares KSh48b Dividend

Safaricom PLC reported strong financial results for the fiscal year ending March 2025, with group revenue increasing 11.2% to KSh 388.7 billion and net income rising 10.8% to KSh 69.8 billion, surpassing analyst expectations. The company’s Kenyan operations saw revenue grow 11.4% to KSh 381.2 billion, driven largely by the M-PESA mobile money service, which contributed KSh 161 billion and accounted for 44.2% of Kenya’s service revenue. Safaricom Ethiopia significantly expanded its customer base, more than doubling to 8.8 million subscribers and contributing nearly 10% of group revenue, with expectations to reach profitability by 2027. Earnings Before Interest and Taxes (EBIT) for the group surged 29.5% to KSh 104.1 billion, reflecting strong operational performance amid ongoing investments and expansion. The company announced a total dividend payout of KSh 48 billion, maintaining consistent shareholder returns despite foreign exchange challenges and Ethiopia expansion costs. CEO Peter Ndegwa attributed the success to sustained innovation, digital transformation, business expansion, and community investments exceeding KSh 18 billion over five years, reaffirming Safaricom’s vision to be Africa’s purpose-led technology company by 2030.