NSE-listed telecommunications firm Safaricom has announced a net profit of Sh42.8 billion in the first half of its 2026 financial year. This was a growth of 52.1 percent from the net profit of Sh28.1 billion that the company had realized in the first half of the 2025 financial year.
During the period under review, total revenue went up by 8.1 percent to Sh204.7 billion while service revenue increased by 11.1 percent to Sh199.9 billion. M-Pesa revenue increased by 14.1 percent in the first half of the financial year under review.
The Safaricom half year 2026 results also showed that revenue from mobile data had surpassed voice revenue for the first time in the company’s history. Mobile data revenue accounted for 21 percent of total service revenue at Sh44.45 billion. Voice revenue on the other hand came in at Sh41.09 billion.
This growth in mobile data usage was also evident in the increasing number of customers consuming heavier data bundles. For instance, 12.9 million Safaricom customers are currently consuming more than 1GB per month while more than 25.7 million customers use 4G devices on the Safaricom network.
“We are seeing steady growth across all customer groups. We have tailored offers and segment-led solutions giving customers more options and choice,” said Safaricom chief executive officer Peter Ndegwa.
The company’s financial services revenue which consists of credit, wealth and insurance grew by 14 percent to Sh4.6 billion. This was the fastest recorded growth over the last three years.
On Safaricom Ethiopia, Group chief finance officer Dilip Pal said that the company is still looking to break even in the full year 2027. The Ethiopian business contributed 11 percent of the group growth in the first six months of the financial year.
“In Ethiopia, mobile data revenue remains a substantial component of the business, growing 28 percent and contributing two thirds of the service revenue,” said Pal. Customers in Ethiopia grew by 83.7 percent year on year to hit 11.1 million, with the Safaricom network reaching 55 percent in population coverage from 3,306 sites.
READ MORE: Safaricom Ethiopia celebrates 10 million active customers milestone
