Safaricom posts 4.9% rise in FY revenue

Kenyan telecoms operator Safaricom has announced its financial results for the twelve months ended 31 March 2020, reporting a 4.9% rise in total revenue to KES262.6 billion (USD2.4 billion). Service revenue increased by 4.8% year-on-year to KES251.2 billion, driven by sustained customer growth, a rise in mobile and fixed data revenue, alongside M-PESA growth. The increase was partially offset by the COVID-19 response and a contraction of the betting industry. EBITDA jumped by 8.3% in the twelve-month period to KES134.6 billion, while Safaricom recorded a net profit of KES74.7 billion, up by 19.5% year-on-year.

Safaricom recorded a total of 35.61 million customers at 31 March 2020, an increase of 12.2% from twelve months earlier.

―Comms Update