NAIROBI, Kenya — Safaricom is capping off its financial year with a power move: Sh69.8 billion in net income, a Sh48.08 billion dividend payout, and a bold message that its TechCo transformation is no longer a plan—it’s a profitable reality.
In its latest earnings report released on May 9, 2025, the telecom-turned-tech giant posted a 10.8pc year-over-year increase in net income, driven by strong growth in mobile money and broadband services.
The company also reported an 11.2pc jump in total revenue, bringing in Sh388.7 billion for the year ending March 31.
And yes, shareholders are smiling. A final dividend of 65 cents per share will join the already-paid interim dividend of 55 cents, closing the loop on a generous return to investors.
Safaricom’s strong performance wasn’t a fluke—it was engineered. According to CEO Dr. Peter Ndegwa, the results are a direct payoff from the company’s five-year transformation strategy, which ended with this fiscal period.
Over the past half-decade, Safaricom has shifted gears from a legacy telco into a forward-leaning tech company, investing in advanced digital solutions, customer-centric platforms, and data analytics.
The company also poured over Sh18 billion into community projects in education, health, environment, and economic empowerment, reinforcing its brand as not just a business, but a national force for development.
“We have delivered excellent group performance with double-digit growth on both the top and bottom line,” said Ndegwa. “This strong set of results reflects the dedication of our teams, the loyalty of our customers, and the strength of our strategy.”
The TechCo approach seems to be more than just boardroom jargon—it’s changing how Safaricom competes, connects, and creates value.
Ethiopia’s Promise, Kenya’s Muscle
While Kenya remains the profit engine—generating Sh364.3 billion in service revenue, a 10.5pc increase—Ethiopia is fast emerging as the next frontier. The company says Ethiopia now contributes nearly 10pc of group revenue.
Although the Ethiopian business is still in the red, management confirmed it’s moved past the peak investment phase and expects to break even by FY2027. It’s a long game, but one with a potentially massive payout.
Meanwhile, M-PESA is aging like fine wine. At 18 years old, it’s still the MVP of mobile finance, contributing Sh161 billion—or 44.2pc of Kenya’s service revenue. The platform saw a 15.2pc year-over-year growth, thanks to its expanded services in wealth management and credit solutions.
Safaricom has a clear grip on Kenya, a growing footprint in Ethiopia, and a product portfolio that blends profit with purpose. If this year’s performance is any clue, Safaricom’s TechCo era has officially begun—and it’s got billions to prove it.
