Safaricom Ethiopia Telecommunications PLC reported a sharp rise in performance for the financial year ended 31 March 2026, with service revenue increasing by 130.9% year-on-year to ETB 15.9 billion. The company attributed the strong growth to rapid customer acquisition, rising demand for mobile data services, and accelerating adoption of its M-PESA mobile money platform across Ethiopia.
The results were announced as part of the Safaricom PLC Group FY26 full-year results in Nairobi, highlighting Ethiopia’s growing importance within the Group’s broader Vision 2030 strategy. The Ethiopian operation contributed 15% of total Group service revenue growth during the period, reinforcing its role as a key expansion market.
Customer growth remained a major driver of performance. The 90-day active customer base increased by 54.2% year-on-year to 13.6 million, while 30-day active customers rose 48.2% to 10.7 million. The company also reported strong momentum in mobile money adoption, with M-PESA customers more than doubling to 5.2 million, reflecting expanding uptake of digital financial services in the market.
Revenue was led by mobile data, which generated ETB 9.6 billion during the year, supported by increased smartphone penetration and rising demand for connectivity. Voice services also recorded solid growth, reaching ETB 3.0 billion, as overall network usage and customer engagement continued to expand across the country.
Infrastructure expansion remained a key focus, with Safaricom Ethiopia increasing its network footprint to 3,504 sites. This helped lift 4G population coverage to 59%, significantly improving access to digital services and connectivity nationwide. The company said this expansion is central to its long-term strategy of enabling digital inclusion across Ethiopia.
Total investment into the Ethiopian business rose to US$2.6 billion as of 31 March 2026, supporting ongoing network rollout, operational scaling, and future growth initiatives. The Group noted that losses in the Ethiopian operation declined significantly year-on-year, with the business moving closer to its target of EBITDA breakeven in FY27.
Safaricom Ethiopia reiterated its commitment to accelerating digital transformation in the country through expanded connectivity, broader financial inclusion via M-PESA, and continued investment in infrastructure and services aimed at supporting Ethiopia’s growing digital economy.
