Safaricom Annual Profit Rises 67 Percent
Safaricom reported a 67 percent increase in annual profit, exceeding analysts’ expectations. The improvement followed a reduction in losses at the company’s unit in Ethiopia. The results were announced on May 7, 2026.
qz.comSafaricom reported that its annual profit rose 67 percent, exceeding analysts’ expectations. The increase was driven in part by a narrowing of losses at the company’s unit in populous Ethiopia. Ethiopia is one of the most populous countries in Africa and has been a focus for expansion.
The profit growth marks a significant improvement over the previous year. The company did not disclose the exact profit figure or the prior year’s baseline in its announcement.
Safaricom is the largest telecommunications operator in Kenya and has pursued regional growth. The results come as the company continues to operate in a competitive regional market. Further details on revenue, subscriber growth and dividend plans were not included in the initial announcement.
Key Facts
Potential Impact
- 01
Safaricom shareholders may see improved returns following the profit increase.
- 02
The company could gain greater investor confidence in its Ethiopian expansion.
- 03
Narrowed losses in Ethiopia may support further investment in that market.
Transparency Panel
Related Stories
ibtimes.comSEC Chair Paul Atkins Says Congress Will Pass Crypto Legislation
SEC Chair Paul Atkins stated he is confident Congress will pass crypto market structure legislation. He added that President Trump will sign the bill into law.
asiaone.comIran Says Strait of Hormuz Management Belongs to Iran and Oman
Iran's Foreign Ministry spokesperson stated that control of the Strait of Hormuz must be decided solely by Iran and Oman. The spokesperson also said no agreement has been reached with the United States and that current focus remains on ending the war.
cnbc.comFed Official Highlights Regulatory Barriers to AI Productivity Gains
A Federal Reserve official stated that productivity growth remains key to economic expansion and that regulatory hurdles are the main obstacle to sustained gains from artificial intelligence.