Safaricom Chief Executive Officer Dr Peter Ndegwa increased his ownership in the telecommunications giant to 12,097,881 ordinary shares as of March 31, 2026, according to the company’s latest annual report.

The report shows that Ndegwa’s shareholding rose from 8,740,477 shares in the previous financial year, representing an increase of 3,357,404 shares over the 12-month period.

The latest disclosure places Ndegwa among the company’s largest individual shareholders, although the report notes that no director individually owns more than one per cent of Safaricom’s issued share capital.

Why the increase

The increase in the CEO’s shareholding comes as Safaricom posted one of its strongest financial performances, reporting Group service revenue of Ksh414.1 billion, an 11.5 per cent increase from the previous year.

Net income attributable to shareholders rose 37 per cent to Ksh95.6 billion, while earnings before interest and tax climbed 40.6 per cent to Ksh146.3 billion.The company also grew its customer base across Kenya and Ethiopia to 71.56 million, reflecting continued expansion of its telecommunications and mobile money businesses.

In his message to shareholders, Board Chairman Adil Khawaja said the performance reflected disciplined execution of Safaricom’s strategy as it transitions into a purpose-led technology company.

“The Board acknowledges the leadership of the Safaricom management team and employees in guiding the business through a strong year of performance,” the chairman said, adding that the company continues to create long-term value for shareholders.

The company has proposed a final dividend of Ksh1.15 per ordinary share, bringing the total dividend for the 2025/26 financial year to Ksh2.00 per share, subject to shareholder approval at the Annual General Meeting scheduled for July 31, 2026.