Nairobi Securities Exchange-listed telecom giant Safaricom has reported a robust 11.2% jump in total revenue, reaching Sh388.7 billion ($3 billion) for the financial year ending March 31, 2025, thanks to its ongoing pivot from telecom to tech.
Riding on the momentum of business diversification, expansion into Ethiopia, and a growing TechCo product portfolio, the company’s board has announced a Sh48.08 billion dividend payout to shareholders. This includes a final dividend of 65 cents per ordinary share, in addition to the interim dividend of 55 cents already disbursed.
The 2025 financial year also marked the conclusion of Safaricom’s five-year transformation strategy, which saw the firm evolve from a traditional mobile service provider into a full-fledged technology company.
Beyond business growth, Safaricom continued its community impact work — channeling over Sh18 billion into education, healthcare, environmental conservation, and economic empowerment programs over the past five years.
“We have delivered excellent group performance with double-digit growth on both top and bottom line. This strong set of results reflects the dedication of our teams, the loyalty of our customers, and the strength of our strategy,” CEO Peter Ndegwa said.
The group Earnings Before Interest and Taxes also reported an impressive growth of 29.5 per cent to Sh151 billion.
Ethiopia contributed almost 10 per cent to the group’s revenue, with management noting that the business has moved past the peak investment phase and is expected to turn to profitability by the 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.
In Kenya, service revenue grew by 10.5 per cent to Sh364.3 billion.
M-PESA, which turned 18 last year, delivered Sh161 billion, contributing 44.2 per cent of Kenya’s service revenue.
The year-on-year growth of 15.2 per cent was driven by diversification beyond payments, with a growing focus on wealth management and credit solutions.
Kenya’s connectivity business also grew by 6.5 per cent to Sh185.2 billion, contributing 50.8 per cent of service revenue.
This was driven by mobile data revenue, which grew by 15.2 per cent to Sh72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6 per cent to Sh80.8 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 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.
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