Why m-pesa still drive in business

M-Pesa has crossed KSh100bn in revenue in just six months, and that one number explains why Safaricom just posted one of its strongest half-year results in years.

Safaricom Group says net income rose 35.9% to KSh58.2bn for the six months to 30 September 2026, up from KSh42.8bn a year earlier. Group service revenue grew 13.1% to KSh226.1bn, while earnings before interest, tax, depreciation and amortisation rose 27.5% to KSh129.2bn.

M-Pesa is now the engine

M-Pesa revenue grew 13.6% to KSh100.1bn, crossing the KSh100bn mark for the first time in a half-year period.

It now makes up 46.3% of Safaricom Kenya service revenue. In other words, almost one shilling in every two that Safaricom Kenya earns now comes from mobile money, not voice or SMS.

The platform handled 27.4 billion transactions, up 25.2%, with a total value of KSh23.6 trillion. Consumer payments remained the biggest contributor at KSh40.8bn, up 14%, while business payments rose 14.7% to KSh31bn.

The fastest growth came from financial services, which jumped 55.3% to KSh7.1bn. That covers savings, loans and other products that sit on top of M-Pesa. It shows customers are no longer using M-Pesa only to send money home. They are using it to borrow, save, pay suppliers, and run small businesses.

That is why M-Pesa still drives the business. Voice calls are flat or falling, but daily money movement is rising. The more a customer depends on M-Pesa for everyday life, the harder it is to leave Safaricom.

What this means for East Africa

Kenya invented the mobile money model that the rest of the world now copies. This result proves the model has moved from survival tool to full financial system.

For millions of people without a traditional bank account, M-Pesa is now their bank, their wallet, and their lender. For East Africa, that means faster payments, more small business activity, and a bigger digital economy.

Kenya remains the core profit engine. Kenya service revenue rose 11.3% to KSh216bn, and Kenya net income rose 13.8% to KSh66.3bn. Kenya operating profit also crossed KSh100bn for the first time in a half-year, reaching KSh101.8bn.

Ethiopia is also improving. Service revenue surged 71.6% to KSh10.6bn, and its net loss narrowed by 43.2% to KSh8.8bn, bringing the business closer to break-even.

The bottom line

• Biggest number: M-Pesa at KSh100.1bn
• Group profit: KSh58.2bn, up 35.9%
• Why it matters: Mobile money is now Safaricom's main growth story

Safaricom is no longer just a telecom company. It is a payments and financial services company that happens to own a network. That shift is the real story behind these numbers .