Safaricom revenue hits record Ksh.388.7B as expansion to Ethiopia pays off

Technology company Safaricom PLC has reported an 11.2% increase in total revenue, reaching Ksh.388.7 billion for the financial year ending 31st March 2025, up from Ksh.349.4 billion in the previous year.

The Group’s net profit also rose to Ksh.45.7 billion, compared to Ksh.42.6 billion recorded over the same period last year.

According to Safaricom CEO Dr. Peter Ndegwa, the strong performance was driven by sustained innovation across the company’s product portfolio, expansion into Ethiopia, and impactful investments in community initiatives. Over the last five years, Safaricom has invested more than Ksh.18 billion in Education, Health, Environment, and Economic Empowerment initiatives.

“As the Group results show, we have met the set guidance with Kenya delivering growth across all business units and Ethiopia has accelerated commercial momentum reaffirming our commitment to transform Ethiopia's digital future. This 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 year 2030,” said Dr. Ndegwa.

The Group also reported a 29.5% increase in Earnings Before Interest and Taxes (EBIT), rising to Ksh.104.1 billion, with Ethiopia contributing nearly 10% to total revenue.

Safaricom Ethiopia more than doubled its subscriber base, growing from 4.3 million to 8.8 million customers, and now operates over 3,141 network sites.

“A total of 2.8 million customers are actively using M-PESA services in Ethiopia, transacting over Ksh.20.6 billion over the year in review,” the company said on Friday.

In Kenya, service revenue grew by 10.5% to Ksh.364.3 billion, driven significantly by M-PESA, which celebrated its 18th anniversary last year. The mobile money service delivered Ksh.161 billion, accounting for 44.2% of Kenya’s service revenue.