By Kamadi Amata
Safaricom PLC (NSE: SCOM) has reported strong financial results for the six months ended September 30, 2026 (HY27), driven by sustained growth across its Kenyan unit and a sharp reduction in start-up losses in Ethiopia.
The group’s net income rose 35.9% year-on-year to KES 58.2 billion, up from KES 42.8 billion recorded in the same period last year. Group service revenue expanded 13.1% to KES 226.1 billion, while Group Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) advanced 27.5% to KES 129.2 billion.
In Kenya, service revenue grew 11.3% to KES 216.0 billion. For the first time in a six-month reporting period, the Kenyan operation recorded Earnings Before Interest and Tax (EBIT) exceeding KES 100 billion, reaching KES 101.8 billion a 13.7% year-on-year increase.
Group M-PESA revenue also achieved a major milestone, crossing KES 100 billion in a half-year period for the first time. M-PESA revenue increased 13.6% to KES 100.1 billion. The company noted that 53% of all transactions and approximately 81% of Lipa na M-PESA and Pochi la Biashara merchant transactions remained zero-rated during the period to support broader financial access.
Safaricom Telecommunications Ethiopia recorded a 71.6% jump in service revenue to KES 10.6 billion, accounting for 17% of the group’s overall service revenue growth. The operation now serves 15.4 million three-month active customers, up 38.4% year-on-year.
Crucially, the Ethiopian subsidiary drastically narrowed its EBITDA loss by 96.5% to KES 434.4 million, down from KES 12.4 billion in HY26.
“Our performance reflects strong execution across our businesses, while Ethiopia’s sustained growth and commercial momentum brings us closer to our target of achieving EBITDA break-even by the end of this financial year,” said Peter Ndegwa, Group CEO of Safaricom PLC.
Adil Khawaja, Chairman of Safaricom PLC, highlighted the strategic momentum across both markets;
“The results demonstrate the resilience of Safaricom’s business and the strength of our strategy. Importantly, this growth remains anchored in our purpose of transforming lives, ensuring that the value we create is reflected not only in our financial performance but also in the opportunities we enable for our customers, shareholders, and the communities we serve.”
Alongside its financial performance, the group reported that over 1.5 million lives were impacted through the Safaricom and M-PESA Foundations’ initiatives in health, education, and economic empowerment during the half-year period. Additionally, 60,000 young athletes have participated in Season 5 of the Safaricom Chapa Dimba football tournament to date.
