Safaricom PLC has posted impressive financial results for the period ending March 2025, with a notable 15.2% increase in mobile data revenue, which surged to Sh72.9 billion. This growth was primarily attributed to the rise in 4G network adoption across Kenya, as more customers shifted towards faster and more reliable internet services.
The telecom giant’s voice revenue also defied global trends, recording a 1.6% growth to Sh80.8 billion. This resilient performance in voice revenue highlights Safaricom’s ability to maintain strong traditional services while diversifying into data and technology-driven offerings.
Overall, Safaricom’s connectivity business grew by 6.5% to Sh185.2 billion, accounting for 50.8% of the company’s total service revenue. This growth is part of the company’s broader strategic push to position itself as a technology leader in East Africa. CEO Peter Ndegwa highlighted that the results not only reflect strong performance but also lay the foundation for the company’s vision of becoming Africa’s leading purpose-driven tech company by 2030.
Safaricom’s earnings before interest and taxes (EBIT) rose by an impressive 29.5%, reaching Sh104.1 billion. This growth is a testament to the company’s focus on improving operational efficiency while expanding its technology portfolio. Ethiopia, which is an important market for Safaricom, contributed nearly 10% to the group’s revenue.
In Ethiopia, Safaricom more than doubled its customer base to 8.8 million, supported by over 3,141 sites in operation. The company’s M-PESA service has also gained traction, with 2.8 million active users transacting over Sh20.6 billion during the reporting period.
The results mark the conclusion of Safaricom’s five-year strategy cycle, which saw the company evolve from a traditional telecom provider into a tech-driven entity. As it moves into its next phase of growth, Safaricom is well-positioned to lead the digital transformation of Kenya and Ethiopia, with plans to turn profitable in Ethiopia by the financial year 2027.
