Safaricom Group Net Income Rises 36% to KSh58.2 Billion in HY27
Ethiopia’s operating loss narrows by 96.5% as the business moves closer to break-even, while M-PESA revenue crosses KSh100 billion for the first time in a half-year period.
Safaricom Group has reported a 35.9% increase in net income to KSh58.2 billion for the six months ended September 30, 2026.
The company also recorded strong growth in service revenue and operating earnings. Group service revenue rose by 13.1% to KSh226.1 billion. Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 27.5% to KSh129.2 billion.
The results reflect growth across Safaricom’s Kenya and Ethiopia operations.
Kenya Business Crosses KSh100 Billion EBIT Mark
Safaricom Kenya recorded service revenue of KSh216 billion, representing an 11.3% increase.
Its earnings before interest and tax (EBIT) reached KSh101.8 billion. This was the first time the Kenya business had crossed the KSh100 billion mark in a six-month reporting period.
M-PESA also recorded a significant milestone. Revenue grew by 13.6% to KSh100.1 billion, crossing KSh100 billion for the first time in a half-year period.
The mobile money platform continued to offer free transactions. During the period, 53% of all transactions remained free or zero-rated. The figure was approximately 81% for Lipa na M-PESA and Pochi la Biashara merchant transactions, and 63% for consumer transactions.
Safaricom Group CEO Peter Ndegwa said the results reflected strong execution across the business.
The company remains focused on its Vision 2030 ambition of becoming Africa’s leading purpose-led technology company. Its Ethiopia operation is also making progress towards its break-even target.
Ethiopia Moves Closer to Break-Even
Safaricom Ethiopia recorded service revenue of KSh10.6 billion, an increase of 71.6%.
Its three-month active customer base reached 15.4 million, representing growth of 38.4%.
The business also made significant progress in reducing its operating losses. Its EBITDA loss narrowed by 96.5% to KSh434.4 million.
Ethiopia contributed 17% of the Group’s service revenue growth during the six-month period.
Safaricom Chairman Adil Khawaja said the results demonstrated the resilience of the business and the strength of its strategy. He added that the company remained focused on translating financial performance into opportunities for customers, shareholders and communities.
Foundations Reach More Than 1.5 Million People
Beyond its financial performance, Safaricom continued investing in community programmes.
More than 1.5 million people were reached through Safaricom and M-PESA Foundations’ education, health and economic empowerment initiatives during the period.
The company also continued supporting youth development through the Safaricom Chapa Dimba football tournament. So far, 60,000 young players have participated in its fifth season.
The HY27 results show growth across Safaricom’s core Kenyan business and continued progress in Ethiopia. The Group is now looking to sustain this momentum while bringing its Ethiopian operation closer to profitability.
