Safaricom posts strong results for full year ending 31 March

14 May 2013

Kenya’s largest cellco by subscribers, Safaricom, has posted EBITDA of KES49.2 billion (USD576 million) for its financial year ending 31 March 2013, up 31% year-on-year. Revenue meanwhile came in at KES124 billion, up 16% year-on-year and in part driven by a 29% hike in non-voice service revenue. According to CEO Bob Collymore, M-PESA – the company’s money transfer system that uses mobile handsets – was a ‘major revenue driver’, contributing around KEW22 billion in revenue. The company is 40%-owned by Vodafone Group.

Kenya, Safaricom