Safaricom Reports Strong Half-Year Financial Performance with Notable Growth and Recovery

Safaricom, a leading telecommunications company, has announced its half-year financial results, showcasing a remarkable recovery. The group’s net income, excluding minority interest, demonstrated a notable growth of 2.1%, reaching KES 34.2 billion. This signifies a significant rebound from the 10.6% decline reported in the previous fiscal year.

Of particular significance, the group’s service revenue experienced an impressive surge of 10%, reflecting the company’s robust performance in a challenging operational environment.

Safaricom’s success can be attributed to its robust commercial strategies, which have resonated with customer needs and align with the company’s overarching mission to Transform Lives. This achievement is underpinned by strong growth in the Kenya Business segment and a promising trajectory in the Ethiopia business, demonstrating substantial progress one year after its launch.