Safaricom Reveals How Much M-PESA Generated as Half-Year Profit Hit Ksh50B

Safaricom PLC reported a significant increase in its half-year earnings, with profit after tax rising to Ksh50.35 billion for the six months ended September 30, 2026.

According to a report shared 9n Thursday, November 5, M-PESA remained a major contributor to the company's performance, generating Ksh99.7 billion in revenue and accounting for 46.2 per cent of Safaricom's service revenue in Kenya.

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The company attributed the performance to continued growth across its mobile money, connectivity and fixed services, with the expansion of its customer base and merchant network supporting increased transactions.

"Kenya service revenue grew 11.3% to Ksh215.9B, supported by continued momentum across M-PESA, connectivity and fixed services. 

"M-PESA revenue reached Ksh99.7B, contributing 46.2% of service revenue, supported by 7.0% growth in the customer base to 37.3M, transaction value increased 16.6% to Ksh23.56T, while the merchant ecosystem expanded 9.3% to 1.1M merchants," the report read.

The results showed that M-PESA's customer base expanded by 7 per cent to 37.3 million, while the total value of transactions processed through the platform increased by 16.6 per cent to Ksh23.56 trillion. 

Its merchant network also grew by 9.3 per cent to 1.1 million.

Safaricom's overall financial performance was also supported by higher revenue and improved operating earnings during the reporting period.

Total group revenue increased to Ksh233.73 billion from Ksh204.71 billion in the previous corresponding period, while profit before income tax rose to Ksh81.33 billion from Ksh55.24 billion.

Operating profit similarly increased to Ksh91.14 billion, compared to Ksh65.21 billion recorded in the six months ended September 30, 2025.

The directors attributed the improved earnings to stronger operating performance and increased profitability across the group's businesses.

"Group profitability remained resilient, with EBITDA growing 27.5% to Kshs 129.1B, EBITDA margin increasing 9.1ppts to 55.3% and Net Income excluding minority interest growing 35.9% to Kshs 58.2B," the report added.

The financial statements further showed that profit attributable to equity holders of the parent increased to Ksh58.15 billion from Ksh42.78 billion in the previous year.

However, losses attributable to non-controlling interests stood at Ksh7.80 billion, compared to Ksh13.59 billion during the corresponding period in 2025.

Safaricom's EBITDA reached approximately Ksh129.18 billion, while its profit before tax stood at Ksh81.33 billion, highlighting the improvement in the group's earnings during the six-month period.

This comes weeks after Safaricom issued a response after the High Court nullified the government’s divestiture of its 15 percent stake in the telecommunications company. 

In a statement on Tuesday, September 15, the telco said it is currently reviewing the judgment and its implications, noting that the matter remains subject to ongoing legal processes.

"Safaricom PLC notes the High Court of Kenya’s judgment on 15th September 2026, regarding the Government of Kenya’s divestiture of 15% of its shareholding in Safaricom to Vodafone Kenya Limited and, effectively, Vodacom Group Limited, in which the Court has ruled against the divestiture.

"Safaricom is reviewing the judgment and its implications. Given that the matter remains subject to legal processes, further updates will be provided in due course and as appropriate," the company stated.

According to Safaricom, the divestiture of the government’s 15 percent stake in the company was completed on June 30, 2026, following the lifting of conservatory orders by the Court of Appeal.

Further, Safaricom said it will continue serving its customers in Kenya and Ethiopia while the legal processes unfold.

"As Safaricom, we will continue serving Kenya and Ethiopia by connecting people and businesses to opportunities, empowering communities, addressing societal challenges through technology, and most importantly transforming lives," the statement added.