Safaricom Half-Year Profit Jumps 52% To $329M

Safaricom Plc has posted a 52.1 percent rise in post-tax profit to $329 million (Sh42.8 billion) for the first half of 2025, up from $216 million (Sh28.1 billion) in the same period last year, driven by strong growth in data and M-Pesa revenues.

The telecommunications giant reported that service revenue increased 11.1 percent year-on-year to $1.54 billion (Sh199.9 billion), while earnings before interest and tax (EBIT) surged 54.5 percent to $502 million (Sh65.2 billion).

“The results reflect a disciplined execution of our strategy and a relentless focus on our customers,” said Safaricom CEO Peter Ndegwa. “We are confident in our path guided by key strategic pillars as envisioned in our strategy house.”

Safaricom said its capital expenditure (CAPEX) for the first half of 2025 reflected continued investment in network expansion and market growth. CAPEX in Kenya rose 11 percent to $263 million (Sh34.2 billion), while Ethiopia’s CAPEX dropped 66 percent to $73 million (Sh9.5 billion).

In Kenya, service revenue climbed 9.3 percent to $1.49 billion (Sh194 billion), with EBIT up 13.1 percent to $689 million (Sh89.5 billion) and net income rising 22.6 percent to $448 million (Sh58.2 billion). The growth was supported by expanding data usage, mobile money transactions, and enterprise services.

In Ethiopia, Safaricom’s operations continued to gain traction, with service revenue up 136 percent to $47.7 million (Sh6.2 billion). EBIT improved 34.4 percent to a loss of $187 million (Sh24.3 billion), while net income rose 20.1 percent to a loss of $119 million (Sh15.5 billion).

The company said Ethiopia remains a key growth market, supported by rising customer numbers, higher data usage, and ongoing network rollout.

Safaricom added that it remains confident about maintaining its growth momentum across both Kenya and Ethiopia, driven by increased adoption of digital and mobile financial services.