Safaricom has transformed from a modest mobile network operator into Kenya’s most influential technology company, shaping the digital landscape across East Africa. Launched in 2000 with fewer than 300,000 subscribers, the company now connects nearly 36 million customers with a broad range of mobile and digital services.
At the heart of Safaricom’s evolution is a commitment to innovation and solving real-world challenges through technology. The company’s defining breakthrough came in 2006 with the launch of M-Pesa, the world’s first mobile money platform. Initially conceived as a basic money transfer tool, M-Pesa has since evolved into a comprehensive financial ecosystem offering credit, savings, insurance, and investment services. By 2025, M-Pesa accounted for 44.2% of Safaricom’s service revenue, generating Sh161 billion in Kenya alone.
Safaricom further revolutionized digital commerce in 2013 with Lipa Na M-Pesa, a service that enabled millions of merchants and consumers to adopt cashless payments. This innovation solidified Safaricom’s role in driving financial inclusion and digital transformation.
In the financial year ending March 2025, Safaricom reported a net income of Sh69.8 billion, bolstered by robust performance in mobile money and broadband services. Kenya remained the primary revenue engine, contributing Sh381.2 billion, a year-over-year increase of 11.4%. Group revenues climbed to Sh390.1 billion, while earnings before interest and taxes rose 13% to Sh151 billion in Kenya alone. Shareholders received Sh48.08 billion in dividends.
Safaricom’s expansion into Ethiopia marks a bold strategic move. With 8.8 million subscribers and 3,141 operational sites, Safaricom Ethiopia contributed nearly 10% of group revenue. Though not yet profitable, it is projected to turn a profit by 2027.
CEO Peter Ndegwa emphasized the group’s resilience amid economic challenges, stating, “Ethiopia provides an immense opportunity for our continued growth.”
As Safaricom continues to lead in mobile, fintech, health, education, and agritech sectors, its legacy of innovation positions it as a key driver of Africa’s digital future. The company’s ongoing focus on sustainability, cross-border expansion, and inclusive growth signals that its journey as a tech giant is only just beginning.
