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Wireless

Safaricom FY net profit falls 7%, service revenue holds steady

Thursday 13 May 2021 | 11:01 CET | News
Kenyan operator Safaricom reported a 6.8 percent decrease in net profit to KES 68.7 billion for the year ended 31 March from KES 73.6 billion a year earlier amid tough economic conditions triggered by the Covid-19 pandemic. The drop in earnings was attributed to the waiver of fees for mobile money transactions of up to KES 1,000 from the end of March to December 2020, which saw free transactions worth KES 4.4 billion processed. Total revenue increased slightly to KES 264.03 billion from KES 262.56 billion in the prior year.

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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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