Safaricom posts 13% rise in FY revenue, completes M-PESA migration

7 May 2015

Kenyan telecoms operator Safaricom has reported revenue of KES163.37 billion (USD1.7 billion) for the twelve months ended 31 March 2015, an increase of 12.9% from KES144.67 billion the previous year. Total service revenue also rose 12.9% year-on-year to KES156.25 billion, with non-voice service revenue jumping 27.4% from KES54.04 billion in FY 2013/14 to KES68.84 billion the following year, thanks to a 59.2% increase in mobile data turnover to KES14.82 billion. Safaricom said that EBITDA grew to KES71.19 billion in the twelve months to end-March 2015, up by 16.8% from KES60.94 million in the year-ago period, helping to boost net income by 38.4% from KES23.02 billion to KES31.87 billion over the same timeframe.

Safaricom said its mobile customer base totalled 23.35 million at 31 March 2015, an increase of 8.3% year-on-year, including 4.4 million 3G and 4G device users. The company launched its 4G network in Nairobi and Mombasa in December last year, but plans to expand services to a further 13 towns and cities in the next year. The number of active customers using Safaricom’s M-PESA mobile financial service reached 13.86 million at end-March 2015, up from 12.16 million twelve months earlier. Yesterday China’s Huawei Technologies announced that it has completed the migration of the M-PESA service to its ‘open, secure, flexible and high performing Mobile Money Platform’, enabling Safaricom to improve the offering’s functionality for users across the country. Huawei says that its platform offers a flexible and scalable solution based on encryption technology and carrier-grade infrastructure, to ensure secure banking transactions.

Kenya, Huawei Technologies, Safaricom