Kenya’s greatest telecom operator Safaricom PLC posted annual web revenue of greater than $770 million on Thursday, helped by robust development in its cellular cash and information companies as losses from its Ethiopia enlargement narrowed.
The corporate stated web revenue for the yr ended March 31 rose to 100 billion Kenyan shillings ($772 million), whereas group service income climbed 11.5% to 414.1 billion shillings ($3.2 billion).
Safaricom declared a complete dividend of two shillings per share, amounting to 80.1 billion shillings ($618 million), up 66.7% from a yr earlier.
“We now have proven robust execution within the first yr of our five-year technique,” Group CEO Peter Ndegwa stated in an announcement, including that the corporate exceeded steering regardless of foreign money reforms and market restore measures in Ethiopia.
Safaricom’s Kenyan enterprise remained its largest earnings driver, with service income rising 10% to 400.8 billion shillings ($3.1 billion), whereas earnings earlier than curiosity and tax grew 15.3% to 182.3 billion shillings ($1.4 billion).
The corporate’s Ethiopia unit, launched in 2022, continued to achieve traction, with subscriber numbers growing to 13.6 million prospects. Service income from Ethiopia jumped 86.6% to 14.1 billion shillings ($109 million), supported by community enlargement to three,504 websites protecting 60% of the inhabitants.
Chairman Adil Khawaja stated the group was starting to see advantages from scale in Ethiopia as startup prices eased.
“This steadiness in development, funding and self-discipline is precisely what the board expects at this stage of our journey,” he stated.
Income from M-PESA, Safaricom’s cellular cash platform, rose 13.4% to 182.7 billion shillings ($1.4 billion), whereas cellular information income elevated 18.3% to 92.9 billion shillings ($717 million).
Safaricom stated its complete buyer base throughout Kenya and Ethiopia grew to 71.6 million customers.
