Safaricom Posts 11.2% Revenue Growth, Driven by Expansion into Ethiopia and M-PESA Performance
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Safaricom PLC has reported an 11.2% rise in total revenue, reaching Ksh.388.7 billion for the financial year ending March 31, 2025, up from Ksh.349.4 billion the previous year. The growth comes amid strategic expansion efforts and innovation across its product portfolio, particularly in digital finance and regional markets.
The Group’s net profit also rose to Ksh.45.7 billion, marking an increase from Ksh.42.6 billion in the previous financial year. Safaricom attributes the robust performance to its ongoing investment in technology and regional diversification, with Ethiopia emerging as a key growth market.
Speaking during the announcement, Safaricom CEO Dr. Peter Ndegwa said, “As the Group results show, we have met the set guidance with Kenya delivering growth across all business units and Ethiopia accelerating commercial momentum, reaffirming our commitment to transform Ethiopia’s digital future.”
Safaricom Ethiopia more than doubled its subscriber base, growing from 4.3 million to 8.8 million customers. The network now operates over 3,141 sites, and 2.8 million Ethiopian users actively use M-PESA, transacting more than Ksh.20.6 billion in the year under review.
Earnings Before Interest and Taxes (EBIT) rose by 29.5%, hitting Ksh.104.1 billion. Notably, the Ethiopian operation contributed nearly 10% of the total Group revenue, signaling strong early returns from Safaricom’s regional foray.
In its home market of Kenya, Safaricom recorded service revenue growth of 10.5% to Ksh.364.3 billion. M-PESA remained a key driver, generating Ksh.161 billion—accounting for 44.2% of the country’s service revenue. The mobile money platform, which marked its 18th anniversary last year, continues to be central to Safaricom’s success, both as a financial tool and as a digital enabler.
Beyond its commercial interests, Safaricom reported that it had invested over Ksh.18 billion in the last five years in community-focused initiatives across Education, Health, Environment, and Economic Empowerment.
Dr. Ndegwa reiterated the company’s long-term ambition, stating, “Our performance is attributed to our continued commitment to our Purpose of Transforming Lives and steered by our vision to be Africa’s purpose-led technology company by 2030.”
With a strong foundation in Kenya and a rapidly expanding presence in Ethiopia, Safaricom appears well-positioned to maintain its growth trajectory in the coming years.
By Yockshard Enyendi
