Safaricom PLC’s net income rose 35.9% to KES 58.2 billion in the six months ended September 30, 2026, as strong growth in Kenya and Ethiopia lifted the group’s financial performance.
Group service revenue increased 13.1% to KES 226.1 billion, while EBITDA grew 27.5% to KES 129.2 billion.In Kenya, service revenue rose 11.3% to KES 216 billion, while earnings before interest and tax (EBIT) increased 13.7% to KES 101.8 billion, crossing the KES 100 billion mark for the first time in a half-year reporting period.
M-PESA revenue grew 13.6% to KES 100.1 billion, also surpassing KES 100 billion for the first time in a six-month period. More than half of all M-PESA transactions remained free or zero-rated during the period.
Safaricom Ethiopia recorded service revenue growth of 71.6% to KES 10.6 billion, supported by an expanding customer base. Three-month active customers increased 38.4% to 15.4 million.The Ethiopian operation also moved closer to profitability, narrowing its EBITDA loss by 96.5% to KES 434.4 million.
Safaricom is targeting EBITDA break-even in Ethiopia by the end of the current financial year.
“Our performance reflects strong execution across our businesses, while Ethiopia’s sustained growth and commercial momentum brings us closer to our target of achieving EBITDA break-even by the end of this financial year,” said Peter Ndegwa, Group CEO of Safaricom.
Safaricom Chairman Adil Khawaja said the results demonstrated the resilience of the business and the strength of its strategy.
Beyond its financial performance, the company said its foundations had impacted more than 1.5 million lives through education, healthcare and economic empowerment programmes during the half-year. Another 60,000 young players have participated in the fifth season of the Safaricom Chapa Dimba football tournament.
