Safaricom CEO Peter Ndegwa
Kenya’s telecoms powerhouse, Safaricom PLC, has reported a remarkable 52.1% surge in half-year net profit to KES42.8 billion ($282 million) for the first half of 2026, buoyed by robust M-Pesa performance and steady growth in both Kenya and Ethiopia.
Safaricom PLC reported a 52% surge in half-year profit to KES 42.8 billion ($282 million), driven by booming M-Pesa transactions and solid growth in Kenya and Ethiopia.
The telecom giant’s mobile money ecosystem processed KES20 trillion ($132 billion) in value, with merchant users rising sharply.
Safaricom Ethiopia narrowed losses by 20%, signalling stability in the new market despite currency challenges.
The company also deepened its social investments, launching a foundation in Ethiopia and expanding its education initiatives across Africa.
The company’s mobile money platform, M-Pesa, remains at the heart of its growth story, with revenues rising 14.1% to KES88.1 billion ($580 million) and transaction volumes up 27% to 22 billion.
The value of transactions processed through M-Pesa hit a staggering KES20 trillion ($132 billion), underscoring the platform’s role as a continental financial lifeline.
“The M-Pesa ecosystem continues to expand, with growing volumes and value transacted,” said Dilip Pal, Group Chief Finance Officer, Safaricom PLC.
Within Kenya, Safaricom’s net income climbed 22.6% to KES58.2 billion ($383 million), supported by a 9.3% rise in service revenue to KES194 billion ($1.28 billion). Earnings before interest and taxes (EBIT) increased 13.1% to KES 89.5 billion ($590 million), demonstrating continued operational strength.
Meanwhile, Safaricom Ethiopia, still in its early expansion phase, reduced its losses by 20.1% to KES 15.5 billion ($102 million), despite currency volatility and pricing challenges.
“In Ethiopia, currency reforms are starting to create a more liquid market,” noted Group CEO Peter Ndegwa.
Ndegwa added that the strong performance reflects “a solid start to our Vision 2030 strategy cycle,” highlighting integrated solutions and segment-led execution as key drivers of the company’s sustainable growth.
Beyond profits, Safaricom continues to invest in communities. Through its Citizens of the Future programme, the company aims to upgrade 500 schools, offer 10,000 scholarships, and empower over 56,000 students with digital literacy over the next five years.
The company also launched the Safaricom Ethiopia Foundation, committing ETB650 million ($11 million) to education and youth empowerment projects.
“It has been 25 years of transforming lives through innovation and community empowerment,” Ndegwa reflected.
“We remain anchored in purpose, driving sustainable growth and positive change across Africa.”
With its dual-market momentum, Safaricom is positioning itself not just as Kenya’s telecom giant but as a pan-African digital enabler, setting the tone for how technology can drive inclusive economic transformation across the continent.