Kenya: Safaricom half-year profit rises to Sh37bn on end of free M-Pesa
Safaricom half-year net profit to September rose 12.1 percent to Sh37.05 billion with M-Pesa revenues driving the rebound on account of end to free State-backed transactions to support customers during the Covid-19 period.
The results, covering six months from April to September 2021, also saw voice and messaging revenue increase in the period that coincided with the lifting of Covid-19 restrictions.
M-Pesa revenue jumped by 45.8 percent or Sh16.4 billion, to Sh52.3 supported by the return to charging of transactions below Sh1,000 in January and improved business activity contributing to a 16.9 percent jump in service revenue to Sh138.4 billion.
Safaricom chief financial officer Dilip Pal at an investor briefing Wednesday said “Growth in service revenue was mainly attributed to M-Pesa revenues as well as mobile data, voice and fixed business.”
Related Posts
Genesis Energy,Desert Tech. announce clean energy alliance
Genesis Energy Holding, a Pan-African leader in clean energy infrastructure, and Desert Technologies Industries Factory CJSC, a Saudi-based…
By
Mouka reaffirms raw material leadership in Africa
Mouka, Nigeria’s leading manufacturer of quality sleep solutions and a proud member of the Dolidol International group, has…
Agboola advocates stronger cross-border infrastructure
Flutterwave CEO and Founder, Olugbenga “GB” Agboola , has called for accelerated investment in Africa’s cross-border payment infrastructure…
Munga increases stake in Equity Group by over $1.2m
Equity Group founder, Peter Munga, has made a strong return to the lender’s shareholder register, purchasing 3.64 million…
Gallery
