Safaricom profit jumps as Ethiopia losses narrow; M-Pesa growth holds

Thursday 6th November 2025

by inAfrika Newsroom

Safaricom Ethiopia performance continued to improve as group earnings rose in the half year to September, with losses in the new market narrowing sharply, executives said. The company also reported steady gains in Kenya and double-digit growth in M-Pesa service revenue.

Safaricom Ethiopia crossed 10 million 90-day active customers in mid-2025. Network rollout and distribution expansion supported data and voice usage, while mobile money continued to scale from a low base. The operator reiterated guidance and said profitability in Ethiopia remains a key focus.

Group service revenue increased year-on-year, led by mobile financial services and data. Management said upgrades to payments infrastructure and new use cases should deepen merchant adoption. Analysts said lower network costs and better utilization in Ethiopia are helping narrow losses faster than expected.

Safaricom Ethiopia performance will be watched for competitive responses and regulatory milestones. The market’s large population and rising smartphone penetration make it a critical growth driver, but macro risks and foreign-exchange constraints remain.

In Kenya, M-Pesa remains the anchor. Executives said reliability and capacity upgrades, including a payments platform refresh, support higher transaction volumes. Investors will also track interim dividend guidance following the stronger half-year print.