The Kenyan telecoms giant also delivered robust financial performance, with group service revenue rising to KES 414.1 billion and net income reaching KES 100 billion, supported by continued customer growth, rising adoption of digital services, and solid performance across its core mobile and financial services businesses.
Safaricom has reported a strong set of results for the year ended 31 March 2026, alongside a major expansion of its investment commitment in Ethiopia to $2.65 billion, as the telecoms group accelerates its long-term regional growth strategy.
The Kenyan telecoms giant also delivered robust financial performance, with group service revenue rising to KES 414.1 billion and net income reaching KES 100 billion, supported by continued customer growth, rising adoption of digital services, and solid performance across its core mobile and financial services businesses. The results mark a strong start to the company’s five-year strategy aimed at transforming Safaricom into a purpose-led technology company.
The company announced a dividend payout of KES 80.1 billion, equivalent to 2 shillings per share, representing a 66.7% increase compared to the previous year. The payout includes an interim dividend of 85 cents per share and a final dividend of 1 shilling 15 cents per share, subject to shareholder approval. The increase reflects Safaricom’s strong cash generation and confidence in its medium-term growth outlook.
A key highlight of the period was the continued expansion of Safaricom’s operations in Ethiopia, where the company is significantly scaling its network and investment footprint. Safaricom Ethiopia now covers around 60% of the population through 3,504 network sites, with subscriber numbers rising to 13.6 million. The business contributed 12.5% to group service revenue growth, with improving commercial momentum and narrowing startup losses as scale begins to build.
As part of its long-term commitment to the market, Safaricom has increased its total funding for Ethiopia to $2.65 billion, reinforcing its strategy to capture growth opportunities in one of Africa’s largest telecom markets. The expansion reflects rising competition, growing demand for mobile connectivity, and the company’s ambition to build a strong second growth engine outside Kenya.
Commenting on the performance, Group CEO Peter Ndegwa said the company delivered “strong execution in the first year of its five-year strategy,” noting that growth in Kenya helped offset the impact of currency reforms and the timing of market investments in Ethiopia. He added that the results reflect a strong balance between growth, investment, and financial discipline.
Safaricom Kenya remained the core earnings driver, with service revenue rising 10% to KES 400.8 billion and EBIT increasing 15.3% to KES 182.3 billion. Mobile money platform M-PESA continued to perform strongly, generating KES 182.7 billion in revenue, supported by 41 million active customers. Mobile data revenue also grew 3% to KES 92.9 billion, reflecting steady demand for digital connectivity.
Group Chairman Adil Khawaja highlighted the company’s resilience, noting that profitability was maintained despite heavy investment in Ethiopia, while early signs of scale benefits are beginning to emerge in the new market. Group CFO Dilip Pal added that improved performance in Ethiopia, including reduced losses, is already contributing positively to overall group results.
Beyond financial performance, Safaricom reported that its social impact initiatives reached more than 4.4 million people across Kenya and Ethiopia through programmes focused on education, healthcare, and economic empowerment, delivered via the Safaricom and M-PESA Foundations.
Overall, the results underline Safaricom’s dual-track strategy: maintaining strong cash-generating leadership in Kenya while aggressively investing in Ethiopia, where the company is positioning itself for long-term regional expansion.
