Safaricom Full Year 2020 Results Summary: KES. 71.7 Billion in Profits

Safaricom has today announced audited results for the year ended 31st March 2020. Here are the main things that stand out:

  • Safaricom paid over KES. 110 billion in taxes in the year ended.
  • Safaricom says they’re in the final stages of piloting MALI which is a unit trust investment product for M-Pesa customers
  • Total revenues grew from KES. 239.8 Billion to KES. 251.2 Billion
  • M-Pesa revenue grew by 12.6% to KES. 84.44 Billion – Percentage growth has reduced from 19.2% last year.
  • Mobile data revenue grew by 12.1% to KES. 40.67 Billion. – A big jump from last year’s 6.2% growth
  • Voice revenue declined by 1.4% to KES. 94.4 Billion – Last year it had grown by 0.3%

From the numbers, Voice and M-Pesa are still big money makers for Safaricom. However, Voice revenues have been reducing, and M-Pesa’s growth is also slowing down. What’s funny is that Mobile data revenue has grown tremendously. This could be as a result of Safaricom’s non-expiry bundles, or other mechanisms.

In terms of montly active users:

  • Overall active users month increased by 9.5% to 28.63 million customers
  • M-Pesa monthly active users increased by 10% to 24.91 million customers
  • Mobile data active customers increased by 10.2% to 19.62 million customers.

On fixed connections, Safaricom Home Fibre has over 97,700 homes actively paying for their connection, and over 24,400 businesses connected on Fibre Business.

Here’s the full document from Safaricom.

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