Safaricom PLC has reported strong financial performance for the year ending March 2026, recording Sh414.1 billion in group service revenue and a net income of Sh100 billion amid continued growth in digital services and regional expansion.
The telecommunications giant also announced a dividend payout of Sh2 per share, amounting to Sh80.1 billion to shareholders, marking a significant increase from the previous financial year.
According to the company, the strong results were driven by rising customer numbers, increased mobile data usage and sustained growth in M-PESA services across Kenya and Ethiopia.
Safaricom Group CEO Dr. Peter Ndegwa said the company had delivered a strong first year under its new five-year strategic plan.
“We have recorded solid growth driven by strong execution across our markets. Kenya delivered outstanding performance while Ethiopia continued showing positive momentum despite ongoing market adjustments,” said Ndegwa.
Revenue growth across core services
Safaricom Kenya’s service revenue grew by 10 per cent to Sh400.8 billion during the financial year, while Earnings Before Interest and Tax (EBIT) rose by 15.3 per cent to Sh182.3 billion.
The company’s mobile data business recorded an 18.3 per cent growth to Sh92.9 billion, reflecting increased internet consumption and smartphone penetration.
Meanwhile, M-PESA revenue increased by 13.4 per cent to Sh182.7 billion, supported by growing adoption of mobile financial services and digital payments.
Safaricom said it now serves 71.6 million customers across its operations, underlining strong demand for connectivity and financial technology solutions.
Ethiopia expansion gains momentum
Safaricom Ethiopia continued to register rapid growth, contributing 12.5 per cent to the Group’s service revenue growth.
The Ethiopian business recorded an 86.6 per cent rise in service revenue to Sh14.1 billion, while subscriber numbers grew to 13.6 million customers.
The company attributed the growth to network expansion, with coverage now reaching 60 per cent of Ethiopia’s population through 3,504 operational sites.
Safaricom PLC Chairman Adil Khawaja said the company was beginning to see returns from its investment in Ethiopia.
“These results demonstrate resilience, strong growth and improving operational efficiency. Ethiopia is showing encouraging commercial momentum while the Kenyan business continues to remain strong,” said Khawaja.
Shareholder dividend and social impact
Safaricom announced that the dividend payout will include an interim dividend of 85 cents per share and a final dividend of Sh1.15 per share, subject to shareholder approval.
The company also highlighted its social investment programmes through the Safaricom Foundation and M-PESA Foundation, saying more than 4.4 million people benefited from projects in education, health and economic empowerment during the financial year.
Group Chief Finance and Innovation Officer Dilip Pal said the company remains focused on investing in network infrastructure and digital systems to support future growth.
“We are entering the second year of our Vision 2030 strategy with strong momentum and continued commitment to innovation and customer experience,” he said.
Key Highlights
- Group service revenue rose by 11.5% to Sh414.1 billion
- Net income increased to Sh100 billion
- Mobile data revenue grew to Sh92.9 billion
- M-PESA revenue climbed to Sh182.7 billion
- Safaricom Ethiopia revenue surged by 86.6%
- Customer base reached 71.6 million users
