Profits galore at Safaricom

Kenya's Safaricom hits record half-year profit

Telecoms operator Safaricom has set a new half-year profitability record for corporate Kenya after it declared a $130 million (Sh11.2 billion) net income for the six months to September.

The earnings came on the back of 17.1 per cent sales growth to $805 million (Sh69.2 billion) that rode on robust performance of non-voice segment of the business including SMS and mobile money transfer service, M-Pesa.

The telecom service provider’s profit growth was also helped by a slowdown in the growth of costs at 9.8 per cent to $351 million (Sh30.2 billion).The half-year results have emboldened Safaricom to upgrade its full year […]

About Andrew Kwabena

The Editor of MoneyInAfrica

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