Safaricom’s Financial Report: Net profits hit Ksh. 48.4 Billion

4 years ago

Safaricom Limited has made public its financial report for the year 2016/2017.

As expected, the company has increased its profits significantly to Ksh. 48.4 billion up from Ksh. 38.1 billion the previous financial year.

The announcement entailed a breakdown of the financial report to highlight the key drivers that have contributed to this growth. M-Pesa and data revenues were reported to be top drivers to the growth.

Included in the report also was the percentage of Kenyans who use mobile and the contribution of local telcos to the GDP.

Specifically, Safaricom noted that presently, 90% of Kenyans are covered by mobile and that telecommunication companies have contributed 8% of the GDP.

A Summary of Safaricom’s Financial Report:

That’s Safaricom’s financial report for 2016/2017 in a nutshell.

Apart from this, other developments came to light:

It comes as no surprise that Uncle Bob’s contract has been renewed for another two years. His old contract was expected to expire on August 2017 but the board has decided that we will be seeing more of him for an extra two years.

The report also included Safaricom’s latest innovation which is M-Pesa 1 Tap, a service that has been termed as the future of M-Pesa.

As the name suggests, the new product is a tap and go payment method that should enhance M-Pesa transactions for customers. Payments can be done using a card, wristband, or an NFC badge.

Parting shot? Collymore announced that the giant telcos would continue to invest in its operations for better customer experiences. Precisely, the telco is set to invest 38 billion and this is an increase from 35 billion in 2016.



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