Kenya’s Safaricom reports full-year earnings of 139.9 billion Kenyan Shillings

Safaricom, a telecom company based in Kenya, announced on Thursday that its group earnings before interest and tax for the financial year that ended in March increased by 3.5% to 94.9 billion Kenyan shillings ($724.4 million).

Also, the group EBIT was higher than the 87–93 billion shillings that the company had projected.

The group also owns shares in Safaricom Ethiopia. It is partially owned by Vodafone of Britain and Vodacom of South Africa.

In 2022, the group established its Ethiopia network, supposing that, following around five years of investment, the large nation would drive growth.

Group CEO Peter Ndegwa announced at an investor event that the business projects group EBIT for the current year, which ends in March 2025, to be between 103 and 109 billion shillings.

Additionally, the business announced a 1.20-shilling total dividend per share.

$1 equals 131.0000 shillings in Kenya.