Safaricom posts Ksh99.7B profit as FY2026 revenue hits Ksh414.1B
By Kenneth Mwenda, May 7, 2026Safaricom Group has reported a strong set of full-year results for year ended March 31, 2026, with net income rising sharply and revenue crossing the KSh414 billion mark, driven by growth in Kenya and improving performance in Ethiopia.
The company said net income rose 67.3 per cent year-on-year to Ksh99.7 billion. Earnings before interest and tax (EBIT) climbed 58.5 per cent to Ksh153.9 billion, while EBITDA increased 35.4 per cent to Ksh220.5 billion. Service revenue grew 11.1 per cent to Ksh414.1 billion.
Safaricom said the results reflected strong demand for mobile data and M-Pesa services in Kenya, alongside early gains from its Ethiopian operations.
In Kenya, the core business continued to deliver stable growth. Net income rose 24.7 per cent to Ksh119.1 billion, while EBIT increased 15.3 per cent to Ksh182.3 billion. EBITDA grew 13.7 per cent to Ksh233.9 billion. Service revenue also rose 10 per cent to Ksh400.9 billion, underlining the strength of its domestic market.
The Ethiopian business also showed faster expansion, although it is still operating at a loss. Service revenue jumped 58.3 per cent to Ksh14.1 billion as the company continued to grow its subscriber base. Net loss narrowed to Ksh21.2 billion, while EBIT improved by 50.7 per cent to a loss of Ksh30.1 billion. EBITDA also improved by 64.8 per cent to a loss of Ksh15.1 billion.
Safaricom said it continued to invest heavily in Ethiopia to support long-term growth. During the year, the subsidiary secured an additional $100 million financing facility in the first half, followed by a further $34 million in the second half. This brought total foreign currency debt for Safaricom Ethiopia to $234 million.
The company also announced a record dividend payout for FY2026. It declared a total dividend of Ksh80.13 billion, up 66.7 per cent year-on-year. The recommended final dividend stands at Ksh1.15 per share, after an interim dividend of Ksh0.85 per share.
Safaricom said the payout reflects strong cash generation and improved profitability across the group.
Strong earnings momentum continues
The performance comes after a strong half-year result in FY2025, when the group posted a 52 per cent rise in profit to Ksh42.8 billion, driven by growth in Kenya and narrowing losses in Ethiopia. The latest full-year results show that momentum has continued into FY2026.
Safaricom Kenya remains the main earnings driver, supported by growth in mobile data consumption and continued expansion of M-Pesa services. In Ethiopia, management has maintained its focus on network rollout and subscriber acquisition despite ongoing losses linked to heavy investment costs.
Safaricom Chief Executive Officer Peter Ndegwa said the company remains focused on its long-term purpose-driven strategy.
“Safaricom has always been about purpose. It is why our business exists. We bring our purpose to life through accessible products and services and through the support we give to our communities through our two foundations,” he said.
He added that the company has aligned its operations with global sustainability goals.
“We have integrated nine UN SDGs into our business model, aligning commercial priorities with sustainable development outcomes. This creates shared value, improving livelihoods, driving innovation, while delivering long-term responsible growth,” Ndegwa said.