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Safaricom Announce a 12.1% Growth In It’s Half Year Result

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Giant telecommunication company Safaricom on Wednesday announced  a 12.1 % growth in its half-year financial year results ending 30 September 2021 from 33.07 billion to 37.1 billion.

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Safaricom profit before tax for the period grew by 22.2 %  from Ksh 44.8 billion to Ksh 54.7 billion.

Safaricom Chief Executive Officer Peter Ndegwa, noted  that the growth was attributed to the good measures put in place by the firm during the COVID-19 pandemic period that  was successful.

“Despite the past year being one with far-reaching changes and extraordinary circumstances given the pandemic, we are encouraged by the business resilience and recovery trajectory marked by a return to near normalcy. We are well-positioned to support our customers and provide technology solutions as we turn the business into a purpose-led technology organization,” said Ndegwa.

In the same  period, the value of M-Pesa transactions grew from Ksh 9 trillion to ksh 13.7 trillion, and total revenue grew by 45.8 % now accounting for 37.8 % of service revenue.

“The growth in free cash flow is because we continue to grow our customer base through great value propositions, and this has further led to the growth in our one-month active customers from 30.21 million to 31.75 million,” Dilip Pal, the firm Chief Finance Officer said.

Revenue service rose by 16.9 % to ksh 138.4 billion from April to September 2021.

Safaricom also revealed that the M-Pesa app launched in July 2021 has recorded 3.9million downloads with over 2 million active customers.

 

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