Safaricom Net Income Rises 35.9% to KES 58.2B

In Short: Safaricom Half-Year Results And Ethiopia Losses

Safaricom reported results for the six months ended September 30, 2026. Group service revenue grew 13.1% to KES 226.1 billion. Group net income grew 35.9% to KES 58.2 billion.

What Happened: How Safaricom Grew Revenue In Kenya And Ethiopia

Safaricom said Group service revenue growth reflected sustained growth across its Kenya and Ethiopia operations.

Group EBITDA, meaning earnings before interest, tax, depreciation and amortisation, increased 27.5% to KES 129.2 billion.

In Kenya, Safaricom delivered service revenue of KES 216.0 billion, up 11.3%. The Kenya business recorded EBIT, meaning earnings before interest and tax, of KES 101.8 billion, passing the KES 100 billion mark for the first time in a six-month reporting period.

M-PESA revenue for the Group grew 13.6% to KES 100.1 billion, crossing the KES 100 billion mark for the first time in a half-year period. Safaricom said 53% of all transactions were free or zero rated, and that about 81% of Lipa na M-PESA and Pochi la Biashara merchant transactions and 63% of consumer transactions remained free or zero rated during the period.

In Ethiopia, Safaricom reported service revenue growth of 71.6% to KES 10.6 billion. The business served 15.4 million three-month active customers. Safaricom said Ethiopia contributed 17% of the Group’s service revenue growth, and that its loss before EBITDA narrowed by 96.5% to KES 434.4 million.

Why It Matters: Signals On M-PESA Scale And Ethiopia Break-Even

Safaricom’s results show M-PESA crossing KES 100.1 billion in half-year revenue for the first time, alongside continued use of free or zero rated transactions.

They also show Ethiopia’s losses narrowing to KES 434.4 million, which Safaricom described as progress toward breaking even.