Safaricom Plc has made history by becoming the first company in East Africa to surpass $3 billion (KSh 388.7 billion) in annual revenue for the financial year ended 31st March 2025.
The telco’s total revenue grew by an impressive 11.2% year-on-year to KSh 388.7 billion while net income accelerated by 10.8% to reach KSh 69.8 billion.
The strong results were mainly supported by expansion into Ethiopia, sustained innovation across the company’s product portfolio, and continued support to local communities. Over the last five years, Safaricom has invested approximately KSh 18 billion in Education, Health, Environment, & Economic Empowerment initiatives, positively impacting the lives of over 13 million people.
Following these strong results, Safaricom announced that it will be paying a dividend of Ksh 48.08 billion to its shareholders for the year. This includes a final dividend of 65 cents per ordinary share, in addition to the interim dividend of 55 cents per share paid out in March 2025.
This reporting period concluded Safaricom’s five-year strategic cycle, during which the company evolved from a telecommunications business into a full-fledged technology company. The transformation was driven by accelerated technology adoption and a greater commitment to digitize Kenya and Ethiopia.
“We have delivered excellent group performance with double-digit growth on both top and bottom line. This strong set of results reflects the dedication of our teams, the loyalty of our customers, and the strength of our strategy,” said Dr. Peter Ndegwa, Safaricom PLC CEO.
Safaricom’s Ethiopian unit contributes almost 10% to the group’s revenue, with the venture expected to turn to profitability by the financial year 2027. Its subscriber base has more than doubled to reach 8.8 million. Approximately 2.4 million customers are actively using Safaricom’s mobile service M-PESA in Ethiopia, with transactions crossing KSh 20.6 billion during the year under review.
In Kenya, service revenue grew by 10.5% to KSh 364.3 billion. M-PESA grew 15.2% year-on-year to Ksh 161.1 billion, contributing 44.2% of Kenya’s service revenue.
Safaricom ventured into Ethiopia in 2022 after securing an operating license for $850 million, marking the opening up of Ethiopia’s telecommunications sector to foreign competition. This expansion has involved substantial investments in infrastructure, with 4G services now reaching almost 50% of Ethiopia’s population through over 3,141 sites.
