Mekelle/Tel Aviv/Nairobi/Pretoria/London
Safaricom Posts 55% Jump in Half-Year Profit Despite Ethiopian Loss
Kenya’s leading telecommunications company, Safaricom PLC, reported a 55 percent rise in its half-year profit on Thursday, buoyed by steady growth in its domestic market. The firm, however, recorded a small loss in its expanding Ethiopian operations.
According to the company’s financial results for the six months ending September 2025, the profit surge reflects continued strength in Kenya’s mobile money and data segments, particularly through its flagship platform, M-Pesa. Increased customer activity and network expansion were cited as key contributors to the earnings boost.
Safaricom’s operations in Ethiopia — launched in late 2022 as part of a multi-billion-dollar regional expansion — continued to weigh slightly on the group’s performance. The subsidiary posted a minor loss as it focused on building market presence and infrastructure in Africa’s second-most populous nation.
Chief Executive Officer Peter Ndegwa said the company remains optimistic about its long-term growth in Ethiopia despite the short-term challenges. “We are encouraged by the progress made in network rollout and customer acquisition in Ethiopia. The early indicators are positive, and we expect improved performance as operations mature,” he stated.
Analysts note that Safaricom’s Kenyan market remains its profit engine, but the Ethiopian venture could become a major revenue driver in the coming years as the company scales up mobile money services and expands rural coverage.
Safaricom is Kenya’s largest listed company and a key driver of the Nairobi Securities Exchange. The firm continues to balance robust domestic performance with the costs of its regional expansion strategy.
