Safaricom reports KES58.2 billion half-year profit as Ethiopia losses narrow

Safaricom has reported group net income of KES58.2 billion for the six months ended 30 September 2026, an increase of 35.9% from the comparable period.

The results, reported on 5 November, show group service revenue rising 13.1% to KES226.1 billion and EBITDA increasing 27.5% to KES129.2 billion.

Kenya remained the largest contributor, while the Ethiopian operation continued to expand. Safaricom said Ethiopia’s service revenue grew 71.6% to KES10.6 billion and its EBITDA loss narrowed to KES434.4 million. Reaching break-even remains a target, rather than an outcome already achieved in these results.

M-PESA group revenue reached KES100.1 billion during the half-year. Chief executive Peter Ndegwa linked the performance to execution across the group and progress in Ethiopia. Kenya remains the group’s largest business, while the Ethiopian unit is moving towards its stated break-even target.