M-Pesa Revenue Tops KSh100 Billion as Safaricom Profit Jumps 73%M-Pesa Revenue Tops KSh100Billion as SafaricomProfit Jumps 73%

The result, up from KSh29.1 billion a year earlier, puts mobile money at the centre of the telecoms group's earnings story. M-Pesa revenue increased 13.6% to KSh100.1 billion from KSh94.7 billion, crossing the KSh100 billion mark for the first time, as detailed in Business Daily's report on the results.

The figures show that M-Pesa is no longer simply a service for sending money between individuals. Payments made by businesses, cross-border transactions and financial services such as lending and asset management are adding to its revenue base.

For customers and merchants, that shift matters because mobile money is increasingly part of how shops receive payments, businesses manage cash and consumers access financial services. For investors, it shows where a large share of Safaricom's growth is coming from as traditional voice services face pressure.

M-Pesa moves beyond person-to-person transfers

Safaricom's Kenya business recorded sales of KSh216 billion, an increase of 11.3% from KSh194 billion in the same period last year. Business Daily attributed the growth partly to stronger M-Pesa revenue.

The mobile money business generated KSh100.1 billion in the period. M-Pesa's expansion into merchant payments and financial services gives Safaricom several ways to earn from the same digital network. A customer may use it to pay a shop, a business may use it to collect money from thousands of customers, and another user may access a financial product through the platform.

The distinction is important. A transfer between two people is only one use of the service. Business payments, international transfers and financial products create other sources of activity and revenue.

Mwenendo previously reported on Safaricom's M-Pesa Jumbe feature, which allows merchants to share limited payment alerts with up to 50 staff. The feature illustrates how the platform is becoming part of everyday business operations, not just a consumer wallet.

Data is another major source of growth

Mobile data revenue rose 12.2% to KSh45.2 billion from KSh40.3 billion. The number of customers using more than one gigabyte of data increased to 15.2 million from 12.9 million.

Average data use per customer rose to 5.3 gigabytes from 4.9 gigabytes. Safaricom also reported that the number of 4G-capable devices on its network increased to 34.3 million from 25.7 million.

Fixed data revenue grew 25.5% to KSh12.5 billion from KSh10 billion. The company's fibre network had connected more than 907,600 homes by the end of the period.

These figures point to a broader change in the business. As voice calls become less central, data, mobile payments and home internet are taking a larger role in the company's revenue mix. That also makes network quality and capacity important to future growth.

Ethiopia losses narrow sharply

Safaricom's Ethiopian operation recorded a loss of KSh434 million, compared with KSh12.5 billion in the same period a year earlier, Business Daily reported. The business began operations in 2022 after Ethiopia opened parts of its telecoms market to competition.

Service revenue in Ethiopia increased 71.6% to KSh10.62 billion. Mobile data revenue rose 90.2% to KSh7.85 billion, while voice revenue increased 20.9% to KSh1.66 billion.

Chief executive Peter Ndegwa said higher revenue and better network use were moving the operation closer to break-even. The company expects to reach that point by the end of its financial year in March 2027.

The improvement reduces one of the financial pressures attached to Safaricom's regional expansion. However, the operation still needs to sustain customer growth and revenue while managing the cost of building and running a network in a competitive market.

The next test is sustaining growth

The half-year figures give Safaricom a stronger earnings base, but they also raise expectations that M-Pesa and data can keep growing. The next test is whether the company can maintain that pace while investing in network capacity, new services and its Ethiopian operation.

The results also matter to Kenya's wider digital economy. Millions of consumers and businesses depend on mobile money and mobile internet to trade, pay bills and access services. Safaricom's ability to expand those products affects the cost, reach and reliability of digital transactions across the country.

The company is moving away from reliance on traditional calls towards a mix built around payments, data and fixed connectivity. M-Pesa's KSh100.1 billion half-year revenue is the clearest sign of how far that shift has gone.