Safaricom’s M-PESA services continues to be the key cash cow for the business, contributing 42.1 per cent of the telcos revenue in the six months to 30th September 2023, up from 39.3 per cent in the same period in 2022.
The telco recorded a growth in profitability for the six months to 30th September 2023 with the Kenyan business profits growing 10.9 per cent to KSh 41.6 billion. It attributed this growth in profitability to reduced prices for its products and services.
“We appreciate that everyone is going through a hard time and are committed as a business to support our customers cope. The reduced prices have seen our customers use more of our services hence the double-digit growth in profitability and revenue,” Peter Ndegwa, Safaricom CEO says.
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