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Safaricom makes Sh31 billion profit

May 7th, 2015 2 min read

Safaricom Limited’s success story continued after the company released its results on Thursday showing it had made a net profit of a whopping Sh31.9 billion in 2014.

The company’s total revenue increased by 13 per cent to Sh163.4 billion with service revenue growing by a similar per cent to  stand at Sh156.2 billion of which – voice service revenue grew by 4 per cent to Sh87.4 billion and non-voice service revenue increased by 27 per cent to Sh68.8 billion.

“We have grown our total revenue by 13 per cent to Sh163.4 billion through focusing on providing quality services that resulted in double digit growth across our non-voice service revenue streams,” said Bob Collymore, Safaricom CEO.

“Voice service revenue which now stands at 54 per cent of total revenue grew at 4 per cent while non-voice service revenue which accounts for 42 per cent of total revenue, sustained its growth trajectory with a 27 per cent increase to Sh68.8 billion driven mainly by data and M-Pesa. Devices and other revenue contribute 4 per cent of total revenue.”

Safaricom made Sh15.6 billion from SMS, Sh32.6 billion from M-Pesa which recorded a 14 per cent increase in 30-day active M-Pesa customers at 13.9 million.

TRANSFORM LIVES

Mobile data revenue grew by 59 per cent to Sh14.8 billion while fixed service revenue grew Sh3.1 billion. The company now has 23.3 million customers.

Mr Collymore added that the company would continue to deliver the best service to our customers.

“For that we have been rewarded with strong commercial and financial performance. We have delivered on our goal to transform lives by providing unmatched services; improving our network quality; and deepening financial inclusion with the customer uptake of Lipa na M-Pesa,” he said.

He revealed that Safaricom 4G network is now available in Nairobi and Mombasa, and will roll out to another 13 towns and cities by end of 2015.

“This is a first for Kenya and will enable our customers to experience superfast home broadband and mobile data offerings,” he said.

Delivery of National Police Network in Nairobi and Mombasa, a 4G push-to-talk network and CCTV cameras, is progressing, with phase one on schedule to be launched at the end of May 2015.