Kenya’s Safaricom posts US$33 million half-year profit

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Nairobi, Nov. 9, 2020 (PANA/Naija247news) Kenya’s biggest telecommunication firm, Safaricom, realised US$33.07 million as its half-year net income, a 6 per cent drop.

Releasing the half-year financial results on Monday, Safaricom CEO, Peter Ndegwa, said the net profit for the period ended on September 30, 2020, decreased by 6.0 percent with service revenue hitting US$118.41 million.

Celebrating its 20th anniversary, the company announced that plans this year is to provide 100 per cent 4G network coverage across the country by end of 2020,

Safaricom has embarked on its next phase of growth that will be driven by a vision to become a purpose-led technology company by 2025.

“Our business has proved to be resilient despite tough operating conditions,” said Ndegwa. ”There is no doubt that COVID-19 has dealt a huge blow to many people not just in Kenya, but across the globe.”

Safaricom has a customer base of 35 million in Kenya.

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