Safaricom Profit Hits Sh100 Billion as Ethiopia Growth and M-PESA Drive Revenue to Sh414 Billion

macharia David 
taifaleo 
7 may 2026

Safaricom PLC has posted a strong financial performance for the year ended March 2026, reporting net income of Sh100 billion as the telco continued to benefit from growth in M-PESA, mobile data usage and rising momentum in Ethiopia.
The company’s group service revenue grew by 11.5 percent to Sh414.1 billion, underlining sustained expansion in its core businesses and growing demand for digital and financial services across the region.

The results mark a major milestone in the first year of Safaricom’s five-year Vision 2030 strategy aimed at transforming the company into a purpose-led technology firm.
Group CEO Peter Ndegwa said the company had delivered strong execution across its operations, particularly in the second half of the financial year.

“We delivered strong performance, with acceleration in the second half, surpassing Group guidance with outstanding Kenya performance offsetting the impact of currency reforms and the timing of market repair actions in Ethiopia,” he said.

Safaricom also announced a dividend payout of Sh80.1 billion, equivalent to Sh2 per share, representing a 66.7 percent increase from the previous year. The payout includes an interim dividend of 85 cents per share and a proposed final dividend of Sh1.15 per share, subject to shareholder approval.
In Kenya, service revenue rose by 10 percent to Sh400.8 billion, while earnings before interest and tax climbed 15.3 percent to Sh182.3 billion.

The company’s customer base across Kenya and Ethiopia expanded to 71.6 million subscribers, reflecting continued uptake of mobile connectivity and digital financial services.

M-PESA remained one of Safaricom’s strongest growth engines, with revenue increasing by 13.4 percent to Sh182.7 billion. The mobile money platform now serves 41 million active customers.

Mobile data revenue also recorded robust growth, rising by 18.3 percent to Sh92.9 billion as demand for internet services continued to surge.

Safaricom’s Ethiopia business showed significant improvement during the year, with service revenue jumping by 86.6 percent to Sh14.1 billion. Subscriber numbers in Ethiopia reached 13.6 million customers, supported by network expansion to 3,504 sites covering about 60 percent of the population.

Board Chairman Adil Khawaja said the results demonstrated the company’s resilience despite continued investment in Ethiopia.

“We are beginning to see the benefits of scale in Ethiopia, with improving commercial momentum and narrowing start-up costs,” he said.

Safaricom’s finance chief Dilip Pal noted that reduced losses in Ethiopia had boosted overall group performance, adding that the company would continue investing in network infrastructure and digital systems to support future growth.
Beyond financial performance, Safaricom said it continued to deepen its social impact initiatives through the Safaricom and M-PESA Foundations, which reached more than 4.4 million people in Kenya and Ethiopia through education, health and economic empowerment programmes.

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