Safaricom Records ksh74.7 billion Net Profit

Sateesh Kamath
Safaricom CFO,Sateesh Kamath

Kenya's largest telco Safaricom has posted a net profit of ksh 74.7 billion for the financial year 2019/2020 full year results.

This represents a 19.54 percent jump in profit compared to previous financial year.

Safaricom saw an increase in M-pesa and mobile data revenue this financial year as opposed to the usual high revenue growth  from voice calls and SMS.

M-Pesa brought in ksh 84.44 billion while mobile data drew in ksh 40.67 billion to the company. The largest revenue however came from voice calls amounting to ksh94.45 billion.

With a new Chief Executive  Mr Ndegwa, the company is planning to avail more smartphones on credit  to customers in partnership with Google in near future.

The telecommunications company board agreed to give ksh 1.40 dividend per share to the registered shareholders.


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