Safaricom registers 14.4% increase in net income

Safaricom PLC has registered a 14.4% increase in profit after tax to 35.65 billion shillings for the six months ended 30th September 2019.

According to the Group Chief Financial Officer Sateesh Kamath, the growth has been attributed to an increase in Mpesa revenue by 18.2% to 41.97 billion shillings and a general increase in mobile data revenue by 4.0% to 19.78 billion shillings.

While speaking at the release of the company’s half-year results, interim CEO Michael Joseph reiterated that investment in the network and infrastructure has been critical to the organization’s success and Safaricom will continue to invest ahead of the curve.

He further said that during the first half of the year, the organization increased its 4g rollout adding another 732 sites, a 50% growth year on year and reaching 63% nationwide coverage.

Safaricom’s half-year results come less than a month after the company celebrated its 19th birthday and unveiled its new mission to put the customer at the center of all its operations.

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