Safaricom, the Nairobi-based telecoms and digital services provider, has made history as the first company in East Africa to surpass $3 billion in annual revenue. The firm’s financial results for the year ending March 31, 2025, show strong growth driven by investments in digital technology, regional expansion into Ethiopia, and the company’s push to become a full technology firm.
The company posted total revenue of KES388.7 billion (about $3.02 billion), representing an 11.2% increase compared to the previous year. Safaricom also recorded a 10.8% rise in net profit, reaching KES69.8 billion. In line with this performance, shareholders will receive a final dividend of KES0.65 per share, adding to the earlier interim dividend of KES0.55. The total dividend payout for the financial year stands at KES48.08 billion.
Speaking during an investor briefing, the Chief Executive Officer of Safaricom, Dr. Peter Ndegwa, said the company’s performance reflects its evolution and future ambition. “These results are not just about past performance—they reflect the future we are building as Africa’s leading purpose-driven tech company,” he said.
The year 2025 marked the completion of Safaricom’s five-year transformation plan, where it transitioned from being just a telecoms operator to a full-fledged digital technology company. The strategy focused on embedding digital innovation across all its services, from customer engagement and mobile money to enterprise solutions and social impact projects. This shift helped Safaricom remain competitive in a fast-changing African tech landscape where digital services are playing a bigger role in everyday life.
The company’s group Earnings Before Interest and Taxes (EBIT) jumped by 29.5% to KES104.1 billion, a clear sign of improved efficiency and stronger profits under the new business model.
A key driver of growth was the company’s operations in Ethiopia, which contributed nearly 10% of group revenue. Safaricom Ethiopia, launched just a few years ago, more than doubled its subscriber base to 8.8 million and now operates over 3,141 mobile sites across the country.
The Ethiopian operation also showed promise in the mobile money space. M-PESA, the company’s popular mobile money platform, gained 2.8 million active users in Ethiopia who transacted over KES20.6 billion in one year. Safaricom’s management stated that the Ethiopian business has now moved past its heavy investment phase and is expected to start making profits by the 2027 financial year.
With Ethiopia being Africa’s second most populous country, many industry analysts see Safaricom’s entry as a bold and strategic move. If the current growth trend continues, the Ethiopian market could play a significant role in Safaricom’s long-term success and may even rival its home market of Kenya in terms of revenue generation.
Beyond Ethiopia, the company’s digital strategy continues to expand across various sectors including financial services, digital health, agriculture, and e-commerce, making it a central player in Africa’s digital economy.
Safaricom’s transformation aligns with the broader shift in the telecoms industry where companies are leveraging technology to deliver more than just voice and data. The firm is positioning itself as a regional tech leader, with eyes on scaling its digital offerings and potentially expanding to more African countries in the near future.
