Safaricom reports 15.9% revenue growth; data provides 23.8% of total

12 Nov 2010

Kenyan telecoms firm Safaricom has reported revenues of KES47.1 billion (USD560.2 million) for the six months ended 30 September 2010. This figure represents a rise of 15.9% compared to the KES40.66 billion reported in the same period a year earlier. Meanwhile, EBITDA increased 13.8% to KES18.8 billion, and net profit climbed to KES7.63 billion, a rise of 15.1%. Of the revenue total, data services proved to be a key driver, accounting for 23.8% of the total.

In operational terms, Safaricom claimed 16.71 million mobile subscribers, giving it a 76.7% share of the market. The company’s 3G subscriber base doubled year-on-year, and stood at 3.61 million at end-September. Meanwhile, Safaricom said that 13.5 million subscribers are now registered to its M-PESA wireless money transfer system, equivalent to 81% of its total subscriber base. Safaricom said its network comprised a total of 2,282 cell sites, 829 3G base transceiver stations (BTSs) and 165 WiMAX BTSs at 30 September 2010.

Incoming CEO Bob Collymore commented: ‘Once again, the group delivered impressive results despite an increasingly competitive environment. This was the result of continued strong growth in all aspects of the business, augmented by a further expanded and enhanced network, a robust and superior distribution channel, innovative products and a clear focus on value added services and data offerings. As we anticipated, data is proving to be the next frontier, delivering significant benefits’.

Kenya, Safaricom