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Safaricom CEO Collymore, CFO and Chair Munene Ng'ang'a/MOSES MUOKI

Kenya

Safaricom profits increase 18pc to Sh45bn

Safaricom CEO Collymore, CFO and Chair Munene Ng’ang’a/MOSES MUOKI

NAIROBI, Kenya, May 10 – Safaricom has posted a Sh45.1 billion net profit in the year ended March 31, 2017 representing an 18.3 per cent increase from the previous year.

MPESA was the largest revenue contributor in the period under review growing by 32.7 per cent to Sh55.1 billion driven by 14.6 per cent increase in 30 day active customers to 19 million as well as a 35 per cent growth in monthly usage per customer to 10 transactions per month.

Mobile data revenue on the other hand grew by 38.5 per cent to Sh29.3 billion while voice service revenue went up by 2.9 percent to Sh93.5 billion.

SMS revenue however declined by 3.7 per cent to Sh16.7 billion with total customer base hitting 28.1 million.

“We continue to focus on building a resilient business that can weather the regulator and economic forces that are currently shaping the commercial environment,” said Safaricom Chief Executive Officer Bob Collymore.

Going forward the firm is set to roll-out it’s MPESA tap-and-go card throughout the country.

“We have already rolled it out in Nakuru and have about 13,000 card holders, we are going all out going forward,” Collymore told investors on Wednesday.

He also raised concerns over the regulatory framework that he says seem to be unfair urging the regulator to treat all mobile operators equally.

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