Safaricom has once again stamped its authority as East Africa’s digital powerhouse, posting impressive financial results for the year ending March 31, 2025.
The telco reported a total revenue of Sh388.7 billion, marking a solid 11.2 per cent increase from the previous year — a clear sign that its shift from a traditional telecom company to a full-fledged technology firm is paying off.
At the heart of this growth story is M-PESA, Safaricom’s iconic mobile money platform that continues to evolve and lead Kenya’s financial services sector.
Now in its 18th year, M-PESA generated a staggering Sh161 billion in revenue, contributing 44.2 per cent of the company’s service earnings in Kenya alone. The platform, which started as a simple money transfer service in 2007, has grown into a financial giant offering credit, wealth management, and payment solutions to over 34 million users in Kenya.
“M-PESA’s evolution beyond payments into credit and wealth management continues to unlock new growth avenues,” noted Safaricom CEO Peter Ndegwa.
And it’s not just in Kenya — in Ethiopia, where Safaricom expanded operations recently, M-PESA has already attracted 2.8 million customers, transacting over Sh20.6 billion in its first year.
Mobile data also played a major role in Safaricom’s strong performance. The company’s connectivity business grew by 6.5 per cent, with mobile data revenue jumping 15.2 per cent to Sh72.9 billion, fuelled by increased uptake of 4G services.
Interestingly, in a world where traditional voice calls are in decline, Safaricom bucked the global trend, growing its voice revenue by 1.6 per cent to Sh80.8 billion.
The year also marked the conclusion of Safaricom’s ambitious five-year strategy, which saw it transform from a telecoms provider to a diversified tech company. The results are already showing, with double-digit growth both in Kenya and in Ethiopia, where the business now boasts 8.8 million customers and over 3,100 operational sites.
The Ethiopian venture, management says, has moved past its heavy investment phase and is expected to turn profitable by 2027.
On the community front, Safaricom has continued to make an impact, investing more than Sh18 billion in education, health, environment, and economic empowerment initiatives over the last five years.
Following this strong financial performance, shareholders are also smiling. The company announced a final dividend of 65 cents per share, bringing the total payout for the year to Sh48.08 billion.
Summing up the company’s remarkable year, CEO Ndegwa said, “We have delivered excellent group performance with double-digit growth on both top and bottom line. This reflects the dedication of our teams, the loyalty of our customers, and the strength of our strategy.”
