Safaricom PLC has reported a 35.9 per cent increase in Group net income to KES 58.2 billion for the six months ended September 30, 2026, supported by strong growth in its Kenya and Ethiopia operations.
The telecommunications company also recorded a 13.1 per cent increase in Group service revenue to KES 226.1 billion, compared to the corresponding period last year.
Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose by 27.5 per cent to KES 129.2 billion, reflecting improved operational performance across its businesses.
The results highlight the company’s continued growth as its Ethiopian operation moves closer to profitability, with its EBITDA loss narrowing by 96.5 per cent to KES 434.4 million during the reporting period.
In Kenya, Safaricom recorded service revenue of KES 216 billion, representing an 11.3 per cent year-on-year increase.
The Kenyan business also achieved a major financial milestone after its Earnings Before Interest and Tax (EBIT) surpassed KES 100 billion for the first time in a six-month reporting period, reaching KES 101.8 billion, up 13.7 per cent.
M-PESA remained a major contributor to the company’s performance, with Group revenue from the mobile money platform increasing by 13.6 per cent to KES 100.1 billion. This marked the first time the platform crossed the KES 100 billion revenue threshold in a half-year period.
Safaricom said it continued to prioritise financial inclusion by keeping a significant proportion of transactions free of charge.
During the six months, 53 per cent of all M-PESA transactions remained free or zero-rated. Approximately 81 per cent of Lipa na M-PESA and Pochi la Biashara merchant transactions and 63 per cent of consumer transactions also attracted no charges.
Commenting on the performance, Safaricom Group Chief Executive Officer Peter Ndegwa said the company remained focused on its ambition of becoming Africa’s leading purpose-led technology company by 2030.
“We remain firmly focused on delivering our Vision 2030 ambition of becoming Africa’s leading purpose-led technology company. Our performance reflects strong execution across our businesses, while Ethiopia’s sustained growth and commercial momentum brings us closer to our target of achieving EBITDA break-even by the end of this financial year,” said Ndegwa
In Ethiopia, Safaricom recorded a 71.6 per cent increase in service revenue to KES 10.6 billion, reflecting growing demand for telecommunications and digital financial services.
The operation’s three-month active customer base expanded by 38.4 per cent to 15.4 million, demonstrating continued uptake of its services in the market.
Ethiopia contributed 17 per cent of the Group’s service revenue growth during the period, further strengthening its contribution to the company’s overall performance.
Safaricom PLC Chairman Adil Khawaja said the results demonstrated the resilience of the business and the strength of its strategy.
“The results demonstrate the resilience of Safaricom’s business and the strength of our strategy. Importantly, this growth remains anchored in our purpose of transforming lives, ensuring that the value we create is reflected not only in our financial performance but also in the opportunities we enable for our customers, shareholders and the communities we serve,” said Khawaja
Beyond its financial performance, Safaricom continued to invest in social and economic development through its foundations.
During the half-year period, more than 1.5 million lives were impacted through education, healthcare and economic empowerment programmes implemented by the Safaricom and M-PESA Foundations.
The company also sustained its investment in youth development through the Safaricom Chapa Dimba football tournament, with 60,000 young players participating in its fifth season so far.
The latest results reinforce Safaricom’s position as a major contributor to Kenya’s telecommunications and financial services sectors, while highlighting the growing importance of its Ethiopian operation to its long-term regional expansion strategy.