Safaricom has once again proven why it is Kenya’s most profitable company, reporting a KSh 69.8 billion net profit in FY2025. The telecom giant’s performance was driven by strong M-PESA and mobile data revenues, alongside a narrowing drag from its Ethiopia operations. Knowclick Media explores Safaricom’s financial results, compares them with Kenya’s biggest banks, and explains why it continues to dominate the Nairobi Securities Exchange (NSE).
Safaricom at a glance
Safaricom is not just another listed company on the Nairobi Securities Exchange. It is the largest company by market capitalization in East and Central Africa, with a valuation crossing KSh 1.2 trillion in 2025. Its core business spans mobile services, data, and M-PESA — Kenya’s most dominant mobile money platform.
In FY2025, Safaricom reported:
- KSh 388.7 billion in revenue
- KSh 69.8 billion in net profit
- Dividend payout of KSh 48.08 billion (KSh 1.20 per share)
These numbers reaffirm that Safaricom continues to outpace all its peers in terms of profitability, liquidity, and shareholder returns.
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What powered Safaricom’s profit growth?
1. M-PESA: The fintech backbone
M-PESA has grown beyond mobile money into a full financial ecosystem. Millions of Kenyans use it daily for payments, savings, lending, and international remittances. Businesses also depend on it for collections and disbursements. This wide adoption has made M-PESA the largest revenue contributor for Safaricom.
In FY2025, M-PESA recorded double-digit growth in both transaction volumes and revenue, cementing its place as the main driver of profits.
2. Mobile data keeps soaring
Safaricom’s investment in 4G and 5G networks has paid off. Affordable smartphones and increasing demand for internet services drove data revenue higher. More Kenyans are streaming, working remotely, and using digital platforms for education and entertainment. This has strengthened Safaricom’s position as the country’s leading data provider.
3. Ethiopia turning the corner
Safaricom Ethiopia was a big drag in its early years, but FY2025 marked a turning point. The rollout of its network and customer acquisition have been faster than expected. Losses are narrowing, and management expects up to 50% profit growth in FY2026 as the Ethiopia unit begins to break even.
Comparison with Kenya’s biggest banks
To understand Safaricom’s dominance, it helps to compare its profits with the other giants on the NSE, especially Kenya’s top banks.
- KCB Group posted KSh 61.8 billion profit after tax in 2024, a record high but still below Safaricom’s FY2025 results.
- Equity Group Holdings reported KSh 48.8 billion, boosted by regional subsidiaries.
- Co-operative Bank earned KSh 25.46 billion, supported by retail and SME banking.
These numbers show that while banks are doing well, Safaricom remains in a league of its own. No other company in Kenya consistently generates profits on the scale Safaricom does.
Dividend policy and shareholder value
Safaricom declared a total dividend of KSh 1.20 per share (KSh 0.55 interim + KSh 0.65 final) for FY2025. That means KSh 48.08 billion will be returned to shareholders, marking the third year in a row the payout has remained at this level.
For investors, this represents:
- A steady income stream through dividends
- Exposure to a high-growth tech and fintech company
- Strong prospects as Ethiopia operations improve
This makes Safaricom a favorite among both retail and institutional investors.
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Safaricom’s impact on Kenya’s economy
Beyond profits, Safaricom is deeply embedded in Kenya’s economy.
- Job creation: The company directly employs thousands and indirectly supports millions of livelihoods through M-PESA agents, suppliers, and partners.
- Financial inclusion: M-PESA has connected millions of unbanked Kenyans to formal financial services, driving economic participation.
- Tax contribution: Safaricom is among Kenya’s largest taxpayers, contributing significantly to government revenues.
- Digital infrastructure: Its investment in fiber, cloud, and mobile networks fuels Kenya’s digital transformation.
In many ways, when Safaricom grows, the broader Kenyan economy benefits.
Looking ahead
Safaricom’s outlook for FY2026 is positive. Management expects group earnings to grow by up to 50% as Ethiopia contributes more meaningfully. At the same time, M-PESA and data remain strong profit pillars in Kenya.
Key areas to watch include:
- Expansion of 5G and enterprise solutions
- Growth in M-PESA lending and savings products
- Ethiopia subscriber and revenue milestones
- Regulatory environment for mobile money and telecoms
If these strategies succeed, Safaricom will not only defend its crown as Kenya’s most profitable company but also expand its regional footprint.
Frequently Asked Questions (FAQs)
Which is the most profitable company in Kenya?
Safaricom is Kenya’s most profitable company. In FY2025, it reported a net profit of KSh 69.8 billion, outpacing KCB, Equity, and Co-operative Bank.
How much profit did Safaricom make in FY2025?
Safaricom recorded KSh 69.8 billion in profit for the year ended March 2025, supported by strong growth in M-PESA and mobile data revenues.
How does Safaricom compare with KCB and Equity Bank?
KCB Group posted KSh 61.8 billion profit in 2024, while Equity earned KSh 48.8 billion. Both are strong, but Safaricom remains ahead.
What is Safaricom’s dividend for 2025?
The company declared a KSh 1.20 per share dividend, totaling KSh 48.08 billion, the same level as the past two years.
What is driving Safaricom’s future growth?
Future growth will come from Ethiopia expansion, stronger M-PESA products, and continued mobile data demand in Kenya.
Final thoughts
Safaricom’s FY2025 results prove why it is the backbone of the Nairobi Securities Exchange and the Kenyan economy. With KSh 69.8 billion in profit, a steady KSh 48.08 billion dividend payout, and strong prospects in Ethiopia, the company is set to remain at the top.
For investors, analysts, and policymakers, one fact is clear: Safaricom is not just Kenya’s most profitable company — it is its most influential one.
