Nairobi….Safaricom has reported a net profit of Sh 26.2 Billion in half-year profits largely driven by M-pesa that now contributes 27 percent of revenues.
Revenues for the 6 months grew to Sh109.7 billion. Mobile data now contributes 16% to Safaricom revenue.
Telco’s industry remains resilient with the number of mobile subscribers at 40.2 million by June 30, 2017.
Safaricom has seen a 10.8% increase in customer base year-over-year.
“No real benefits in having M-PESA as a standalone as it enjoys economies of scale and shared costs passed to customers,” said CFO and Executive Director at Safaricom Ltd , Sateesh Kamath.
CEO Bob Collymore will be away for medical leave for a few months, said Nicholas Nganga, Safaricom Board Chairman.
Safaricom Home has passed more than 95,000 homes and connected more than 25,000 to fibre.