Safaricom's half-year net profit up 2.1pc to $225m
Thursday November 09 2023
Safaricom Chief Executive Officer Peter Ndegwa. PHOTO | NMG
Safaricom Plc has reported a 2.1 percent growth in net income to Ks34.2 billion ($225.6 million) for the six months to September 2023, as it booked what it sees as early profits from its investments in Ethiopia.
The telco said its Kenyan business remained solid, posting a 10.9 percent growth in revenue to Ksh41.6 billion ($274.4 million) in the half year.
Its service revenues grew by 9.3 percent to Ksh158.3 billion ($1.05 billion) in the period, largely due to higher M-Pesa and data revenues.
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