Safaricom PLC is Kenya’s largest telecommunications and technology company and the most heavily weighted stock on the Nairobi Securities Exchange. In its latest full financial year, the group reported revenue of approximately KSh 388.7 billion and net profit of about KSh 69.8 billion, placing it among the most profitable companies in East Africa.
In recent years the company has evolved from just a mobile network operator into a diversified technology platform integrating connectivity, digital payments, enterprise solutions and broadband infrastructure. Kenya remains the core earnings market and the primary source of group cash flows.
Safaricom secured a telecommunications licence in Ethiopia in 2021 and launched commercial operations in 2022. The Ethiopia business continues to expand network coverage and subscriber numbers, about 11 Million so far, as part of a long-term regional growth strategy.
Core Business Segments
Mobile Voice and Data: Safaricom operates nationwide 2G, 3G, 4G and expanding 5G networks in Kenya, supported by an extensive fibre backbone. Mobile data now contributes a larger share of service revenue than traditional voice services.
M-PESA (Fintech Platform): M-PESA is the group’s flagship digital payments ecosystem. It generated approximately KSh 161.1 billion in revenue in the latest financial year, accounting for over 40 percent of service revenue. The platform serves more than 30 million active users in Kenya and underpins the country’s digital payments infrastructure.
Enterprise and Digital Solutions: Safaricom provides cloud services, cybersecurity, IoT, data centre services and advanced connectivity to corporates, SMEs and public institutions.
Home and Fixed Broadband: The company continues to expand fibre-to-home and fixed wireless broadband services to meet rising demand for high-speed residential and business internet.
Recent Offerings and Growth Focus
Recent initiatives include the launch of Ziidi Trader, a stock trading service integrated into M-PESA, alongside continued rollout of 5G services across key urban centres. Safaricom is also expanding digital financial services within M-PESA, including savings, credit and investment products.
Management remains focused on scaling Ethiopia operations, widening 5G and fibre infrastructure, and growing enterprise and cloud services as part of its transition into a regional technology and digital services platform.
Ownership Structure
The company’s shareholding includes strategic investors and public shareholders. The South African telecom operator Vodacom Group PLC holds a major stake, with the Kenyan government and public investors also among key shareholders.
