Safaricom Registers KSh 45.8B Net Profit for FY2024/25
- Safaricom PLC registered a significant growth in net profit for the financial year ending March 30, 2025
- The leading telecommunications firm reported a 7.3% growth in profit after tax to KSh 45.8 billion, up from KSh 42.6 billion reported in the financial year 2023/24
- Safaricom Chief Executive Officer Peter Ndegwa attributed the growth to strong business digitisation and innovation
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Wycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting, providing deep insights into Kenyan and global economic trends. He currently works as a business editor at TUKO.co.ke.
Safaricom PLC has reported a 7.3% growth in net profit for the financial year 2024/2025.
Source: Twitter
In the period ending March 30, 2025, the leading telecommunications company posted a KSh 45.8 billion, compared to KSh 42.6 billion reported in the previous year.
Safaricom Kenya profit
The telco registered KSh 94.9 billion in net profit, from KSh 82.6 billion for its Kenyan wing.
Safaricom Kenya revenue increased by 11.4% to KSh 381.2 billion while the group revenue stood at KSh 388.7 billion, representing an 11.2% growth during the same period under review.
Speaking during the release of the financial year results on Friday, May 5, Safaricom chief executive officer (CEO) Peter Ndegwa attributed the profit growth to digital transformation and business expansion.
Ndegwa also shared the company's five-year strategic plan to grow the business.
"We powered businesses and pioneered public sector digitisation solutions that have transformed the industry. We scaled the fixed broadband business, doubling homes passed and growing connections four-fold.
"In the next 5 years, we will protect and grow the core business, accelerate our transition into a technology company, boost and evolve our Ethiopia business and unlock value through innovative delivery models," said Ndegwa.
Growth in M-Pesa and other services
Source: Twitter
According to Safaricom chief financial officer (CFO) Dilip Pal, the overall 30-day active customers grew by 7.1% to 37.1 million, the highest year-on-year growth (YoY) in four years.
"One-month active M-PESA customers grew by 3.4M customers in the year, a double-digit growth of 10.5% year-over-year. This was the highest YoY growth in the last 4 years and a good recovery from the flat growth last year," said Pal.
Revenue from voice, mobile data and messaging grew by 6.5% year on year, accounting for 34% of the growth in service revenue.
During its half-year financial reporting, Safaricom Kenya registered a 14.7% growth in net profit to KSh 47.5 billion.
The group's net profit hit KSh 36.7 billion, representing a 21.7% growth.
M-Pesa turns 18
This came as the company's mobile money service M-Pesa turned 18 in March 2025.
Launched in 2007, M-Pesa now serves over 70 million globally, including Kenya, through one million business agents.
Safaricom M-Pesa transactions surpassed 100 million per day during the same period under review.
Proofreading by Asher Omondi, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
