Safaricom has announced an 11.2% growth in total revenue to Kshs 388.7 billion ($3 billion) for the financial year ended March 31, 2025, with net income also accelerating by 10.8% to hit Kshs 69.8 billion.
Following these results, Safaricom will pay out Kshs 48.08 billion in dividend to its shareholders for the year, adding a final dividend of 65 cents per ordinary share to the interim dividend of 55 cents per ordinary share already paid out on or about March 2025.
(TOP: Peter Ndegwa, CEO, Safaricom, while releasing the results).
The strong results were achieved through sustained innovation across the TechCo’s product portfolio, expansion into Ethiopia, and continued support to communities by investing more than Kshs 18 billion in Education, Health, Environment & Economic Empowerment initiatives over the last five years impacting over 13 million lives.
The reporting period also marked the end of Safaricom’s five-year strategy cycle, which saw the company transform from a telecommunication business to a Technology Company through accelerated technology adoption and a greater focus on digitizing Kenya and Ethiopia.
“We have delivered excellent group performance with double digit growth on both top and bottom line. This strong set of results reflect the dedication of our teams, the loyalty of our customers, and the strength of our strategy,” said Peter Ndegwa, Safaricom CEO.
The group Earnings Before Interest and Taxes also reported an impressively growth at 29.5% to Kshs 104.1 billion. Ethiopia contributed almost 10% to the group’s revenue, with management noting that the business has moved past the peak investment phase and expected to turn to profitability by financial year 2027.
On the subscriber numbers, Safaricom Ethiopia has more than doubled the customer base to 8.8 million with over 3,141 sites in operation. A total of 2.4 million customers are actively using M-PESA services in Ethiopia, transacting over Kshs 20.6 billion over the year in review.
In Kenya, service revenue grew by 10.5% to Kshs 364.3 billion. M-PESA, which turned 18 last year, grew 15.2% YoY to Kshs 161.1 billion, contributing 44.2% of Kenya’s service revenue. The growth in M-PESA was driven by diversification beyond payments, accelerated consumer and business payments with a growing focus on wealth management and credit solutions.
Kenya’s connectivity business also grew by 6.5% to Kshs 185.2 billion, contributing 50.8% of service revenue. This was driven by mobile data revenue which grew by 15.2 % to Kshs 72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6% to Kshs 80.8 billion.
“This year’s results are more than a reflection of past performance; they are a foundation for our vision of becoming Africa’s leading purpose-led tech company by year 2030. We are entering a new phase of growth, and we will continue harnessing innovation for social good and shaping the future of Kenya, Ethiopia and beyond,” Ndegwa noted while announcing the results for the year.
Key highlights – Safaricom (including Ethiopia)
Group Total Revenue 11.2% to Kshs 388.7 billion.
Service Revenue 10.8% to Kshs 371.4 billion.
Voice revenue 1.8% to Kshs 81.9 billion
M-PESA revenue 15.1% to Kshs 161.1 billion.
Mobile data revenue 16.5% to Kshs 78.5 billion.
Net Income
Safaricom Group excluding Minority Interest +10.8% to Kshs 69.8 billion
Safaricom Kenya, +12.7% to Kshs 95.5 billion
Safaricom Operating Free Cash Flow + 15.8% to Kshs 148.9 billion.
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