In response to covid-19, the Central Bank of Kenya extended the suspension of fees on mobile money transactions by 6 months. This represents a forecast loss of $ 152.1 million for Safaricom. The leader in this business segment says it can handle this difficult time. The Central Bank of Kenya has decided to extend it by another...
The Kenyan operator confirmed its bid at the weekend, with some suggesting that an Ethiopian licence could open a gateway to the rest of Africa
Kenya's listed telco Safaricom topped the region as the largest company by market capitalisation and net earnings yet again this year
Nairobi — Safaricom has announced plans to launch a Sh20 a day 4G smartphone package aimed at empowering customers currently on 2G devices to upgrade and enjoy high-speed internet connectivity.
According to the report, telecommunication operators in Kenya made $2.7-billion (KES 291-billion) in 2019, which is up 7.5% from 2018’s statistic. Safaricom itself made the lion’s share of the industry at $2.3-billion (KES 251-billion) in 2019. According to Tech Weez, this means that Safaricom made 86% of all revenue in the industry last year.
Kenyan telecoms operator Safaricom has announced its financial results for the twelve months ended 31 March 2020, reporting a 4.9% rise in total revenue to KES262.6 billion (USD2.4 billion). Service revenue increased by 4.8% year-on-year to KES251.2 billion, driven by sustained customer growth, a rise in mobile and fixed data revenue, alongside M-PESA growth. The increase...
With the release of Safaricom’s 2019/2020 FY results, there are new details about the massive telecom’s userbase and revenue. Service revenue grew by +4.8% year on year to $2.3-billion (KES 251.2-billion) from the $2.2-billion (KES 239.8-billion) recorded revenue of the previous financial year. The profile for the service’s revenue reveals that the majority of the...
Mobile data revenue for Safaricom has increased by 12% to record Kshs 40.67-billion according to the company’s full year results released today. The boost in revenue was driven largely by the growth of 4G smartphone use and favorable data packages including non-expiry data plans introduced earlier this year. The company is now seeking to introduce...
Vodacom and Safaricom have completed the acquisition of the M-Pesa brand, product development and support services from Vodafone through a newly-created joint venture. According to a statement released to the media, the transaction – first announced in 2019, will accelerate M-Pesa’s growth in Africa “by giving both Vodacom and Safaricom full control of the M-Pesa...
When Peter Ndegwa takes office as the new Safaricom chief executive officer, his every move will be closely scrutinised. His words and deeds, however small or off-the-cuff, will instantly spread and be amplified. Occasionally, his sentiments will be misinterpreted. For Mr Ndegwa, taking over the most profitable company in East and Central Africa will be...
