Safaricom has reported a sharp rise in both its customer base and profits, with its flagship mobile money platform M-Pesa adding 2.1 million new users in just six months. The telco unveiled its 2025/2026 half-year financial results on Thursday, November 6, in Nairobi, showing significant growth across its business segments.
According to the company’s Group Chief Finance Officer, Dilip Pal, active M-Pesa users grew by 13.3% during the review period. “We’ve seen tremendous progress across all areas. M-Pesa gained 2.1 million new active users within six months following its 18th anniversary. Our total active network users also increased by 7.5%, reaching 37.5 million,” Pal said.
Profit Surge Driven by Improved Operations
Safaricom’s group profit soared by 52%, rising from KSh 28.1 billion in the previous year to KSh 42.8 billion for the half-year ending September 2025. CEO Peter Ndegwa attributed the surge to a rebound in core business operations and a reduction in losses from its Ethiopian subsidiary, which fell by 20.1% to KSh 15.5 billion.
Ndegwa noted that currency depreciation in Ethiopia, particularly against the US dollar and euro, accounted for 35% of the losses. However, Safaricom Ethiopia nearly doubled its customer base to 11.1 million within the same period.
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In Kenya, the company recorded KSh 194 billion in service revenue, marking a 9.3% increase. Earnings before interest and taxes grew by 13.1% to KSh 89.5 billion, while net income jumped 22.6% to KSh 58.2 billion. “Coming from an already strong performance last year, we’re proud of these results,” Ndegwa said.
Safaricom’s Growing Reach
The telecom giant has now surpassed the 50 million subscriber mark in Kenya, reinforcing its dominance in the market. Safaricom credited its success to innovative services such as M-Pesa, robust network infrastructure, and customer-centred digital solutions that continue to drive financial inclusion nationwide.
Since launching mobile services in 2000 with just 17,000 subscribers, the company has become a cornerstone of Kenya’s digital transformation. Today, M-Pesa boasts over 70 million users globally.
The mobile money platform, introduced in 2007, was the brainchild of Nick Hughes, then head of Vodafone’s social enterprise division, which owned 40% of Safaricom. Former CEO Michael Joseph confirmed Hughes conceived the idea in 2006, a concept that went on to revolutionise financial services not just in Kenya, but across Africa.
