Safaricom Defies Hard Times to Funnel in Sh45bn

In Tech

Safaricom pushed its profit to new territories defying hard times helped by M-Pesa and data with profits rising to Sh45.1billion from Sh38.1billion in the same period last year.

The company defied hard times when banks and other industries are laying off staff to see her full year revenues cross the Sh200bn mark to Sh212.89billion from Sh195.7billion the previous year.

Mobile data income grew by 38.5 per cent to Sh29.29 billion from Sh21.15 billion, while M-Pesa recorded 32.7 per cent growth to Sh45.08 billion from Sh41.50 billion.

Voice revenues continued to account for the largest share of the revenues, although at a slower growth rate of 2.9 per cent to Sh93.46 billion from Sh90.80 billion.

Income from SMS services however dropped 3.7 per cent to Sh16.68 billion from Sh17.33 billion the year earlier. Chief executive Officer Bob Collymore attributed the growth to increased revenues from M-Pesa.

Safaricom pushed its profit to new territories defying hard times helped by M-Pesa and data with profits rising to Sh45.1billion from Sh38.1billion in the same period last year.

Full year revenues cross the Sh200bn mark to Sh212.89billion from Sh195.7billion the previous year.

Mobile data income grew by 38.5 per cent to Sh29.29 billion from Sh21.15 billion, while M-Pesa recorded 32.7 per cent growth to Sh45.08 billion from Sh41.50 billion.

Voice revenues continued to account for the largest share of the revenues, although at a slower growth rate of 2.9 per cent to Sh93.46 billion from Sh90.80 billion.

Income from SMS services however dropped 3.7 per cent to Sh16.68 billion from Sh17.33 billion the year earlier. Chief executive Officer Bob Collymore attributed the growth to increased revenues from M-Pesa.

“Voice, M-PESA and Data continue to show growth although we have seen slight decline in SMS revenue,” Collymore said.

Speaking during the release of the results, Collymore further said 3 million additional Kenyans joined Safaricom in the past year.

User growth

“Voice, M-PESA and Data continue to show growth although we have seen slight decline in SMS revenue,” Collymore said.

Speaking during the release of the results, Collymore further said 3 million additional Kenyans joined Safaricom in the past year.

 

You may also read!

The Human Capital Trap for East Africa Startups

People who work in startups in Africa work on the side, because they can’t afford to take the risk

Read More...

Konnect Africa Opens New Opportunities for Internet Entrepreneurs

The company is looking for partners who can be individual entrepreneurs, existing shops

Read More...

Leave a Reply

Mobile Sliding Menu

error: Content is protected !!
%d bloggers like this:
Skip to toolbar