Safaricom PLC has posted a strong financial performance for the first half of the 2026/2027 financial year, with net income rising by 35.9 per cent to KSh58.2 billion, driven by sustained growth in its Kenyan and Ethiopian operations.
The telecommunications giant recorded a 13.1 per cent increase in group service revenue to KSh226.1 billion for the six months ended September 30, 2026. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) also rose by 27.5 per cent to KSh129.2 billion.
In Kenya, Safaricom’s service revenue grew by 11.3 per cent to KSh216 billion, while earnings before interest and tax crossed the KSh100 billion mark for the first time in a half-year reporting period, reaching KSh101.8 billion.
M-PESA continued to strengthen its contribution to the group’s performance, with revenue increasing by 13.6 per cent to KSh100.1 billion, also surpassing the KSh100 billion mark for the first time in a six-month period.
The growth comes as Safaricom continues to expand access to affordable financial services, with 53 per cent of all M-PESA transactions remaining free during the reporting period.
Meanwhile, the company’s Ethiopian operations recorded significant progress towards profitability, with service revenue surging by 71.6 per cent to KSh10.6 billion.
Safaricom Ethiopia’s three-month active customer base grew by 38.4 per cent to 15.4 million, while its EBITDA loss narrowed by 96.5 per cent to KSh434.4 million, bringing the business closer to its target of achieving EBITDA break-even by the end of the current financial year.
Safaricom Group Chief Executive Officer Peter Ndegwa attributed the performance to strong execution across the company’s businesses, noting that Ethiopia’s sustained growth and commercial momentum were accelerating its path towards profitability.
Beyond its financial performance, Safaricom says its community investment programmes continued to make an impact, with more than 1.5 million people reached through education, healthcare and economic empowerment initiatives by the Safaricom and M-PESA Foundations.
The company also reported that 60,000 young players have participated in the fifth season of the Safaricom Chapa Dimba football tournament.
The latest results underscore Safaricom’s continued dominance in Kenya’s telecommunications and mobile money sectors, while its expanding Ethiopian operations emerge as an increasingly important driver of the group’s future growth.
