Safaricom’s Profit Soars as M-Pesa Revenue Crosses Sh100 Billion

Safaricom has recorded a significant increase in its half-year earnings, with its mobile money service, M-Pesa, emerging as one of the major drivers of the company's growth. The latest financial results highlight the growing importance of digital payments in Kenya and across Africa.

For the six months ending September 2026, Safaricom Group's net earnings increased by 35.9 per cent to Sh58.2 billion, compared with the previous year's corresponding period. This strong performance was supported by increased customer activity, higher mobile money revenue and improvements in the company's operations in Ethiopia.

One of the biggest highlights was M-Pesa crossing the Sh100 billion revenue mark for the first time in a six-month reporting period. The service generated Sh100.1 billion, representing a 13.6 per cent increase from the previous year.

M-Pesa has grown beyond its original purpose of allowing people to send and receive money. Today, customers use it to pay for goods and services, settle bills, transfer money internationally and access financial services. Businesses also depend on the platform to receive payments and manage daily transactions.

According to the reported results, M-Pesa processed 27.4 billion transactions during the six-month period, an increase of 25.2 per cent. The total value of transactions also increased to Sh23.6 trillion. These figures demonstrate how deeply mobile money has become part of everyday economic activities.

Safaricom's growth is also important because it shows how technology can improve access to financial services. People who may not have easy access to traditional banking services can use mobile money to make payments and conduct business. Small traders, transport operators and other business owners benefit from the convenience of receiving payments electronically.

The company's performance in Ethiopia also contributed to the improved results. Safaricom Ethiopia recorded strong growth in service revenue while significantly reducing its operating losses. This suggests that the company's investment in the Ethiopian market is gradually making progress.

Why this matters beyond Kenya

Safaricom's achievement offers an important lesson for other African countries, including Nigeria. Mobile financial services can create business opportunities, support small enterprises and make financial transactions more convenient. Nigeria's growing digital payment industry shows that similar technology can contribute to economic development across the continent.

However, the growth of digital payments also makes it important to strengthen cybersecurity, protect customers' financial information and ensure that electronic payment services remain reliable and affordable.

Overall, Safaricom's latest results demonstrate the increasing influence of mobile technology on Africa's economy. As M-Pesa continues to expand, its success could provide useful lessons for other African telecommunications companies seeking to grow their digital financial services.