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The profits were driven by growth in total revenue which went up by 16 percent to Sh124.3 billion/FILE

Kenya

Safaricom in Sh25.5bn pre-tax profit

Going forward, Safaricom intends to increase population coverage of its 2G and 3G networks, completing network modernization in six cities in the country and the rollout of fibre to at least 40 percent of sites in Nairobi with particular focus on the Central Business District.

On M-PESA, the firm’s plans to reduce systems failures while growing retail and e-commerce payments.

“We also aim on ensuring geographical system redundancy for M-PESA and have begun an 18 month program to locate a new M-PESA system in Kenya,” Collymore said outlining the company’s strategies.

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