By Baraka Simba 
Safaricom PLC has reported a strong financial performance for the first half of the 2026/2027 financial year, with its profit after tax rising to KSh50.35 billion for the six months ended September 30, 2026.
The telecommunications giant attributed the improved performance to continued growth in its mobile money business, connectivity services and fixed internet operations, with M-PESA emerging as one of the biggest contributors to the company’s revenue.
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According to the financial results released on Thursday, November 5, 2026, M-PESA generated KSh99.7 billion in revenue, accounting for 46.2 per cent of Safaricom’s service revenue in Kenya.
The mobile money platform recorded a 7 per cent increase in its customer base to 37.3 million users, reflecting its continued importance in Kenya’s digital financial services sector.
The value of transactions processed through M-PESA also increased by 16.6 per cent to KSh23.56 trillion during the reporting period.
Additionally, Safaricom’s merchant network expanded by 9.3 per cent to reach 1.1 million merchants, highlighting the growing adoption of cashless payments among businesses across the country.
At group level, Safaricom’s net income attributable to shareholders increased by 35.9 per cent to KSh58.2 billion, compared with KSh42.78 billion recorded during the corresponding period last year.
The company’s total revenue also increased to approximately KSh233.7 billion, up from KSh204.71 billion in the previous year.
Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 27.5 per cent to KSh129.2 billion, demonstrating improved operational performance.
Operating profit rose by 39.8 per cent to KSh91.14 billion, further strengthening the company’s financial position.
Safaricom’s Ethiopian subsidiary also recorded progress, with service revenue increasing by 71.6 per cent to KSh10.6 billion.
The operation’s EBITDA loss narrowed significantly by 96.5 per cent to approximately KSh434 million, bringing the business closer to its break-even target.
The subsidiary’s net loss also declined by 43.2 per cent to KSh8.8 billion.
Safaricom Chief Executive Officer Peter Ndegwa attributed the improved performance to strong execution across the company’s businesses, continued growth in Kenya and reduced start-up losses in Ethiopia.
The results highlight the growing importance of M-PESA in Kenya’s financial services industry, where mobile money has become an essential tool for individuals, businesses and institutions.
With its expanding customer base, merchant network and transaction volumes, M-PESA continues to strengthen Safaricom’s position in Kenya’s digital payments market.
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