NAIROBI, Kenya — Safaricom has wrapped up its financial year with a bold statement: Sh69.8 billion in net income, double-digit growth across core services, and a Sh48.08 billion dividend payout to match.
The company’s shift from a traditional telco to a tech-driven business is paying off. And it’s doing this while expanding into Ethiopia and navigating tough economic terrain.
That performance is translating directly into shareholder rewards. The company declared a final dividend of 65 cents per share, on top of the earlier 55 cents interim payout. Total payout? Sh48.08 billion—a consistent return seen over the last three years.
Ethiopia: Risky but Rewarding
Safaricom’s Ethiopian operation, once viewed as a costly bet, is beginning to deliver. It now contributes nearly 10pc of total group revenue.
The subscriber base more than doubled, reaching 8.8 million users, with over 3,141 active network sites across the country. The business remains in a loss phase, but management projects profitability by FY2027.
CEO Peter Ndegwa acknowledged Ethiopia’s challenges but emphasized its long-term value. The country, he noted, offers immense opportunity—and Safaricom is past the heavy investment phase there.
TechCo Vision and the Road Ahead
These results also close out Safaricom’s five-year transformation strategy. What began as a telecommunications company is now a tech powerhouse with regional ambition.
Over the past five years, Safaricom has invested more than Sh18 billion in community-focused projects—ranging from health and education to environmental sustainability and economic empowerment.
Now, with this cycle complete, the company is aiming higher. The next phase includes scaling digital services, embracing advanced data analytics, and deepening tech adoption in both Kenya and Ethiopia.
Safaricom’s TechCo roadmap is focused on smart, secure platforms and customer-first experiences. It’s a bold pivot—but one that aligns with where the African digital economy is headed.
Safaricom is proving it can innovate, expand, and still deliver for its shareholders. With profits surging, dividends flowing, and Ethiopia finally coming online, the company is writing a new chapter—one where it doesn’t just connect Kenyans, but powers East Africa’s digital future.
