Safaricom Becomes First East African Company to Cross $3 Billion Revenue Mark

Safaricom has become the first company in the East African region to cross $3 billion in annual revenue.

This is witnessed in the financial results the telecom reported in the financial year ended March 31, 2025 when it reported 11.2% rise in total revenue to Ksh388.7 billion ($3.01 billion).

Profit after tax for the Nairobi Security Exchange-listed company skyrocketed by 10.8% to Ksh.69.8 billion ($540.48 million).

According to Safaricom, the record profit was driven by strong performance across its core markets, particularly in Kenya, which accounted for the majority of its revenue.

Kenyan operations generated Ksh.364.3 billion ($2.82 billion) in service revenue, up 10.5% year-on-year, supported by robust growth in mobile money and data services.

M-PESA Shines in its 18th Year

M-PESA, Safaricom’s flagship mobile money platform, remained a key growth driver, recording a 15.2% increase in revenue to Ksh.161.1 billion ($1.25 billion), which now accounts for 44.2% of Kenya’s service revenue.

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The platform, which celebrated its 18th anniversary this year, continues to play a crucial role in the region’s digital financial ecosystem.

Connectivity revenue, which includes mobile data and voice, rose by 6.5% to Ksh.185.2 billion ($1.43 billion).

Mobile data stood out with a 15.2% jump to Ksh.72.9 billion ($564.47 million), driven by increased 4G adoption, while voice revenue grew modestly by 1.6% to Ksh.80.8 billion ($625.63 million), defying global trends of declining voice usage.

Ethiopian Market Makes Strong Contribution

Safaricom Ethiopia, the company’s newest market, contributed nearly 10% of group revenue, with a customer base exceeding 8.8 million subscribers and 2.4 million active M-PESA users transacting Ksh.20.6 billion ($159.5 million).

Group CEO Peter Ndegwa credited the company’s success to a committed team, loyal customers, and a forward-looking strategy.

“This year’s performance is not just a reflection of past achievements but a foundation for our vision of becoming a purpose-led tech company in Africa by 2030. We are entering a new phase of growth and will continue harnessing innovation for social good, shaping the future of Kenya, Ethiopia, and beyond,” said Ndegwa.

Safaricom plans to distribute a total dividend of Ksh.48.08 billion ($372.17 million) for the year, including a final payout of Ksh0.65 ($0.036) per share, following an interim dividend of Ksh.0.55 ($0.03) per share disbursed in March 2025.