Safaricom PLC has reported a 35.9 per cent increase in net income to KSh58.2 billion for the six months ended September 30, 2026, supported by strong performance in Kenya and reduced losses at its Ethiopian subsidiary.
The telecommunications company’s group service revenue increased by 13.1 per cent to KSh226.1 billion, compared with the corresponding period in 2025.
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 27.5 per cent to KSh129.2 billion, while earnings before interest and tax (EBIT) rose by 39.8 per cent to KSh91.1 billion.
M-Pesa remained a major contributor to the group’s performance, recording a 13.6 per cent increase in revenue to KSh100.1 billion, crossing the KSh100 billion mark for the first time in a six-month reporting period.
In Kenya, service revenue grew by 11.3 per cent to KSh216 billion, while net income increased by 13.8 per cent to KSh66.3 billion.
The company’s Ethiopian operation also recorded significant progress, with service revenue rising by 71.6 per cent to KSh10.6 billion.
Its EBITDA loss narrowed by 96.5 per cent to KSh434.4 million, reflecting improved performance as the subsidiary moves towards its target of achieving EBITDA break-even by the end of the financial year.
Safaricom Group Chief Executive Officer Peter Ndegwa attributed the results to continued growth across the company’s businesses and improved commercial performance in Ethiopia.
The company maintained its full-year financial guidance, with a continued focus on expanding financial services, strengthening digital customer experiences and improving the performance of its Ethiopian operations.
The results cover the six-month period from April 1 to September 30, 2026.
