Safaricom Plc has reported group net income of Sh58.2 billion for the six months ended September 30, 2026, a 35.9 percent increase from the prior corresponding period. The growth was supported by higher M-Pesa and mobile data revenues in Kenya and a sharp reduction in losses at its Ethiopian operation, according to company results reported by Hivileo, TechTrendsKE and other outlets.
Group service revenue rose 13.1 percent to Sh226.1 billion. M-Pesa revenue reached Sh100.1 billion, up 13.6 percent, crossing the Sh100 billion half-year mark for the first time. Kenya mobile data revenue grew 12.2 percent to Sh45.2 billion.
Half-Year Results Summary
| Metric | Six months to 30 Sept 2026 | Change |
|---|---|---|
| Group service revenue | Sh226.1 billion | +13.1% |
| Group EBITDA | Sh129.2 billion | +27.5% |
| Group EBIT | Sh91.1 billion | +39.8% |
| Group net income (attributable to equity holders) | Sh58.2 billion | +35.9% |
| M-Pesa revenue | Sh100.1 billion | +13.6% |
| Kenya service revenue | Sh216.0 billion | +11.3% |
| Kenya EBIT | Sh101.8 billion | +13.7% |
| Ethiopia service revenue | Sh10.6 billion | +71.6% |
| Ethiopia EBITDA loss | Sh434.4 million | Loss reduced 96.5% |
In Kenya, earnings before interest and tax crossed Sh100 billion for the first time in a six-month period, reaching Sh101.8 billion. Safaricom Kenya net income was Sh66.3 billion, up 13.8 percent.
Ethiopia Progress
Safaricom Ethiopia narrowed its EBITDA loss by 96.5 percent to Sh434.4 million. The unit now has 15.4 million three-month active customers. Group CEO Peter Ndegwa has said the operation is on track to reach EBITDA break-even by March 2027, as reported by TechTrendsKE.
Dividend Outlook
Business Daily reported that the stronger half-year performance has raised the company’s dividend outlook for shareholders. Safaricom has maintained its full-year guidance.
Read also:Safaricom Ethiopia Nears Profit as Investment Hits Sh159.6bn
The results were released on 5 November 2026. They show M-Pesa remaining the largest contributor to Kenya service revenue while the Ethiopian business continues to reduce its impact on group earnings.
Sources
- Hivileo – Safaricom Group Net Income Surges 36% To Ksh 58.2 Billion
- TechTrendsKE – Safaricom HY27 results: Net income rises 36%
- TechTrendsKE – Safaricom Ethiopia cuts half-year EBITDA loss by 96%
- Y News – Safaricom Half-Year Profit Jumps 35.9% to Sh58.2bn
- Business Daily – Safaricom half-year profit up 72pc to Sh50 billion
- Khusoko – Sh58.2 billion: Safaricom group net income rises 35.9%