Safaricom posted an overall 7.27 per cent growth in profit after tax for the year to March 31, 2025, to Sh45.76 billion, up from Sh42.7 billion previously.
The profit jump was boosted by strong performance in Kenya, where profit grew by 14.88 per cent to Sh95.47 billion from Sh82.65 billion previously, pushing total revenues up to Sh388.7 billion from Sh349 billion reported last year, which, when converted to US dollars, reached $3 billion, a first in the region, according to the telco. This is even as the telecommunications firm said it plans to introduce its overdraft facility, Fuliza, in Ethiopia, where its M-Pesa customers grew to 2.4 million as of March this year.
Safaricom reported that its Ethiopia unit, still in its formative stages, contributed 10 per cent to total revenues despite posting a net loss of Sh49.77 billion as operating costs increased to Sh36.2 billion.
The company, however, said the business has moved past the peak investment phase and is expected to turn to profitability by the 2027 financial year.
