Safaricom Ethiopia Active Customers Increase By 250,000

Safaricom Ethiopia has recorded a customer base growth of about 250,000 subscribers to 4.6 million in the quarter two (Q2) ending July.

This is compared to the 4.35 million subscribers recorded by the company between January and March as it rolls out an aggressive plan to grow its user base.

“As of end of June 2024, we had 4.6 million three-month active customers on our network and one-month active customers closed at 3.4Mn customers.”

“Commercial momentum in the period was supported growth in customers since launch of operations in Tigray region. Overall Service Revenue ARPU as at end of Q1 FY25 was KES 155.3 (+87.9% YoY),” Safaricom Ethiopia said.

Safaricom Ethiopia was launched in 2022 in the Horn of Africa as the telco sought to grow its customer base beyond Kenya.

Safaricom PLC, Vodacom Group, Sumitomo Corporation, and British International Investment own the Ethiopian unit.

The group was boosted in 2023 when Safaricom Ethiopia was granted a mobile money license by the National Bank of Ethiopia, opening investment opportunities through M-Pesa.