Safaricom has announced that it has registered a Ksh. 69 billion net profit for the financial year ended 31st March 2025. This is an improvement from the Ksh. 48 billion net profit that the company posted in 2024.
Total revenue increased to Ksh. 388 billion from Ksh. 349 billion in a similar period in 2024. Direct costs increased to Ksh. 101 billion from Ksh. 97 billion while operating expenses increased to Ksh. 104 billion from Ksh. 83 billion.
Following these results, Safaricom will pay out Ksh. 48.08 billion in dividend to its shareholders for the year. They will add a final dividend of 65 cents per ordinary share to the interim dividend of 55 cents per ordinary share already paid out.
The reporting period also marked the end of Safaricom’s five-year strategy cycle, which saw the company transform from a telecommunication business to a Technology Company through accelerated technology adoption and a greater focus on digitizing Kenya and Ethiopia.
“We have delivered excellent group performance with double digit growth on both top and bottom line. This strong set of results reflect the dedication of our teams, the loyalty of our customers, and the strength of our strategy,” said Dr. Peter Ndegwa, Safaricom PLC CEO.
The group Earnings Before Interest and Taxes also reported a growth at 29.5% to Ksh. 104.1 billion. Ethiopia contributed almost 10% to the group’s revenue, with management noting that the business has moved past the peak investment phase and expected to turn to profitability by financial year 2027.
On the subscriber numbers, Safaricom Ethiopia has more than doubled the customer base to 8.8 million with over 3,141 sites in operation. A total of 2.4 million customers are actively using M-PESA services in Ethiopia, transacting over Ksh. 20.6 billion over the year in review.
In Kenya, service revenue grew by 10.5% to Ksh. 364.3 billion. M-PESA, which turned 18 last year, grew 15.2% YoY to Ksh. 161.1 billion, contributing 44.2% of Kenya’s service revenue. The growth in M-PESA was driven by diversification beyond payments, accelerated consumer and business payments with a growing focus on wealth management and credit solutions.
Kenya’s connectivity business also grew by 6.5% to Ksh. 185.2 billion, contributing 50.8% of service revenue. This was driven by mobile data revenue which grew by 15.2 % to Ksh. 72.9 billion as a result of increased 4G uptake, while voice revenue bucked global trends to grow by 1.6% to Ksh. 80.8 billion.
“This year’s results are more than a reflection of past performance; they are a foundation for our vision of becoming Africa’s leading purpose-led tech company by year 2030. We are entering a new phase of growth, and we will continue harnessing innovation for social good and shaping the future of Kenya, Ethiopia and beyond,” Dr Ndegwa noted.
Safaricom has delivered an outstanding performance in FY25, marking significant milestones in its operations across Kenya and Ethiopia. In Kenya, the company achieved strong growth, expanding its customer base across all market segments and driving relevant offerings through well-defined customer segmentation. Key achievements include covering 50% of the population with 4G and integrating community impact initiatives into the fabric of society. Safaricom also celebrated major milestones such as M-PESA@18 and M-PESA Foundation@15, showcasing its transformational impact in the country.
In Ethiopia, Safaricom demonstrated encouraging commercial momentum, accelerating customer acquisition despite challenges such as currency reforms and regulatory shifts. The company has positioned Ethiopia as a key contributor to its Vision 2030 strategy, which is now underway.
Looking ahead to FY26, Safaricom has outlined strategic priorities, including scaling tech solutions, enhancing digital-first customer experiences, accelerating profitability in Ethiopia, defending core market share in GSM, mobile money, and broadband, and fostering a zero-harm culture. Despite the impact of Birr depreciation, Safaricom has sustained its dividend payout, with a total of Ksh. 48.08Bn distributed in FY25.
The company has provided FY26 guidance, targeting EBIT of Ksh. 144-150Bn for the group and mobile customer growth in Ethiopia to 15-17 million.