Safaricom’s mobile money platform, M-Pesa, has seen continued revenue growth, earning Sh77.22 billion in the first half of the year—a 16.6% increase in unaudited results. This growth has been largely supported by an annual increase of 13.1% in the average revenue per user, according to Safaricom.
The company reported a 25.6% rise in chargeable transactions per active customer within a month, reaching 37.37 transactions. Over the same period, the total transaction value on M-Pesa increased by 10.7%, amounting to Sh20.85 trillion. Active monthly M-Pesa users grew by 4.1% to 33.46 million, while the number of M-Pesa agents rose by 2.4%, reaching 266,071.
Notably, the number of "pochi" tills doubled to 869,023, and merchant overdraft users increased by 72.9%, reaching 52,272. “Our new products, such as ‘pochi la biashara’ and merchant overdraft services, are performing exceptionally well as we continue to support SMEs within our ecosystem,” said Safaricom CEO Peter Ndegwa.
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The company also recorded a 21.7% rise in net earnings for the first half of the year. Group service revenue increased by 14%, reaching Sh181.4 billion, marking a record high for a half-year period. This robust growth was fueled by a strong performance in Safaricom’s Kenyan operations, where service revenue climbed by 12.9% to Sh177 billion, leading to an 18% increase in both EBIT and net income, which reached Sh79.2 billion.
"This performance, as we celebrate 24 years of connecting and transforming the lives of Kenyans, demonstrates the successful execution of our strategy,” said CEO Peter Ndegwa. “We’re proud of the value we deliver to our customers through technology and are committed to expanding our core business while exploring new services through innovation."
Despite facing challenging conditions, Ndegwa praised the resilience and dedication of Safaricom’s team, acknowledging their efforts to serve customers effectively while upholding shareholder value.
