Report: Safaricom now contributes 5 per cent of Kenya’s GDP
By Mustafa Juma, July 11, 2026Safaricom now contributes an estimated 5 per cent of Kenya’s Gross Domestic Product (GDP), highlighting the company’s growing influence beyond telecommunications as it cements its position as one of the country’s biggest economic drivers.
The revelation is contained in the company’s FY2026 Annual Report, which shows that Safaricom’s expanding ecosystem of mobile connectivity, financial services and digital technology continues to play a central role in Kenya’s economy.
According to the report, the company’s operations and value chain currently support more than 1.3 million jobs while delivering economic value across sectors ranging from agriculture and trade to banking, education, healthcare and public service delivery.
A company bigger than telecom
Safaricom’s economic footprint has grown significantly over the years as the company evolved from a mobile network operator into a diversified technology business.
Its flagship mobile money platform, M-PESA, now underpins millions of daily financial transactions, enabling individuals, businesses and government agencies to send and receive money, pay bills, settle taxes, access loans and save digitally.
During the financial year ended March 2026, M-PESA processed Ksh41.68 trillion worth of transactions and generated Ksh182.7 billion in revenue, underscoring its importance to Kenya’s financial ecosystem.
At the same time, Safaricom’s connectivity business, which includes voice, mobile data, fixed internet and enterprise solutions, continued to provide critical digital infrastructure supporting commerce, education and communication nationwide.
The report notes that the company’s Kenya operations generated Ksh400.8 billion in service revenue during the year, representing a 10 per cent increase from the previous financial year.
Record financial performance
The strong economic contribution came alongside another record-breaking financial year for the company.
Safaricom reported:
- Service revenue: Ksh400.8 billion, up 10 per cent.
- EBITDA: Ksh233.9 billion, an increase of 13.7 per cent.
- EBIT: Ksh182.3 billion, up 15.3 per cent.
- Net income: Ksh119.1 billion, representing growth of 24.7 per cent.
- Operating free cash flow: Ksh173.6 billion, up 16.7 per cent.
The results reflect continued growth across both connectivity and financial services, with mobile money and data emerging as the company’s fastest-growing business segments.
Supporting over 1.3 million jobs
Beyond its direct workforce, Safaricom says its operations support more than 1.3 million livelihoods through distributors, agents, merchants, suppliers, technology partners, retailers and other businesses that depend on its ecosystem.
Its vast M-PESA agent network, enterprise partnerships and digital services have created employment opportunities across urban centres and rural communities alike.
Small and medium-sized enterprises (SMEs) have particularly benefited from digital payment solutions such as Lipa na M-PESA, which allow businesses to receive payments electronically while reducing dependence on cash transactions.
Government among the biggest beneficiaries
The report also highlights the significant returns the Government of Kenya continues to receive from its shareholding in the company.
According to Safaricom, the government has received approximately Ksh242.3 billion in value since becoming a shareholder 18 years ago. This includes dividends, taxes and other economic contributions generated through the company’s operations.
As one of Kenya’s largest taxpayers, Safaricom remains a key source of public revenue while also supporting government digitalisation initiatives through M-PESA payment integrations and connectivity infrastructure.