Safaricom Kenya has posted a Sh 95.5 billion net income for the financial year ending March 2025, marking its highest profit in over a decade and underscoring the telco giant’s resilience amid regional expansion and economic headwinds.
The impressive performance represents a 12.7% year-on-year growth, up from Sh 84.7 billion in the previous year. Total revenue for the Kenyan operation rose by 11.4% to Sh 381 billion, while earnings before interest and tax (EBIT) climbed by 13% to Sh 158 billion.
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Speaking during the release of the company’s results, Safaricom Group CEO Dr. Peter Ndegwa said the firm had not only grown but accelerated, delivering double-digit growth across its core financial metrics.
“This year, we didn’t just grow—we accelerated, achieving double-digit growth in both revenue and net income,” Ndegwa said.
Adding:
“Safaricom Kenya achieved Sh 381 billion in total revenue, up 11.4%, with EBIT growing by 13% to Sh 158 billion and net income increasing 12.7% to Sh 95.5 billion, nearly reaching KSh 100 billion.”
Ndegwa also broke down the performance using forex terms, suggesting that dividing the figures by the prevailing exchange rate of 129 could offer international observers better clarity.
He noted that excluding currency reforms and hyperinflationary accounting, the company’s group performance remained solid. Revenue grew by 12.9%, EBIT by 16.2%, and net income by 14.2%.
However, when factoring in these economic distortions—particularly from Safaricom’s operations in Ethiopia—group revenue stood at Sh 388.7 billion, up 11.2%, with EBIT soaring 29.5% to Sh 104.1 billion. Group net income, excluding minority interest, still showed a 10.8% growth, closing at Sh 69.8 billion.
“Ethiopia will be accretive to the business going forward,” Ndegwa said. “This was the year of the highest losses in that segment, but its future contribution looks promising.”
Over the past 12 years, Safaricom has generated Sh 2.8 trillion in revenue and Sh 614.01 billion in profits. The company has also paid out Sh 535.3 billion in dividends, reinforcing its position as a top dividend-paying stock on the Nairobi Securities Exchange.
Safaricom Kenya’s revenue rose from Sh 310 billion in 2023 to Sh 349.5 billion in 2024. Safaricom Kenya’s net income in 2024 was Sh 84.74 billion before surging to this year’s Sh 95.5 billion.
