Safaricom has reported a 10.8 per cent rise in net income to Sh69.8 billion for the year ending Monday, March 31, as total revenue surged past $3 billion (Sh390 billion) - the first time any company has hit that level in East and Central Africa.
The company said the growth was driven by innovation across products, expansion in Ethiopia and Sh18 billion invested in community projects over five years.
Safaricom will pay Sh48.08 billion in dividends, adding a final dividend of 65 cents per share to the interim payout of 55 cents. "We have delivered excellent group performance with double-digit growth on both top and bottom line," said Chief Executive Officer Peter Ndegwa. "This strong set of results reflects the dedication of our teams, the loyalty of our customers and the strength of our strategy," he added.
Earnings before interest and taxes jumped 29.5 per cent to Sh104.1 billion.
