Safaricom Records Sh26.2 Billion Half Year Net Profit


safaricomSafaricom on Friday announced a 9.5% increase in net profit for the six months ended September 30.

The telecommunications company recorded a Sh26.2 billion net profit.

According to the Chief Financial Officer (CFO), Sateesh Kamath, the increase can be attributed to the great performance in mobile money, MPesa and data.

Mr Kamath, sitting in for the CEO, Bob Collymore who is on sick leave said that voice calls remained strong, growing from Sh45.7 to Sh47.35 billion.

For the six month period, data income rose from Sh13.4 to Sh17.55 billion and MPesa profit grew by 16.2 per cent to Sh30.05 billion.

“M-Pesa and Mobile data are becoming the engines of growth,” said Mr Kamath at a media briefing Friday morning.

Bob Collymore’s Health

Safaricom’s Chairman, Nicholas Ng’ang’a asked that people refrain from speculating about Mr Collymore’s health, who he said was out of the country for specialized medical attention.

“Bob’s style of management is very strong, he’s empowered managers adequately hence as far as the company itself is concerned it’s in strong hands. There is no vacuum,” said Mr Ng’ang’a.

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Written by Eva Nyambura

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