Nairobi News


Safaricom full-year profit hits Sh55.3bn as Collymore makes comeback

Safaricom has announced Wednesday that its net profit for the year ended March 2018 grew to Sh55.3 billion, compared to Sh48.4 billion the year before on the back of M-Pesa and data revenues.

This represents a 14.3 per cent growth of its full-year after-tax earnings.

M-Pesa revenue grew 14.2 per cent to sh62.9 billion while mobile data was up 24 per cent to sh36.4 billion in the period.


The chief executive of Kenya’s largest telecommunications firm, Bob Collymore, also announced that he would be making a return to the helm.

In a video message shared to staff and shareholders, he said he is awaiting medical clearance to travel back to the country.

While presenting the results Wednesday morning, Safaricom Chief Finance Officer (CFO) Sateesh Kamath said the board had recommended a dividend of Sh44.1 billion, an increase of 13.5 per cent form the previous year.

It will be paid at Sh1.10 a share.

Here is how Kenyans on Twitter reacted to Safaricom’s profits.