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Safaricom (SCOM) investor relations material

Safaricom H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary6 Nov, 2025

Executive summary

  • Celebrated 25 years of operations, surpassing 60 million customers group-wide and 10 million in Ethiopia, with strong commercial momentum in both markets.

  • Launched Fintech 2.0, expanded AI deployments, and reinforced commitment to sustainability and digital inclusion.

  • Maintained robust group financial performance and a solid start to the Vision 2030 strategy.

  • Group active customers rose 19.7% YoY to 62.27Mn (three-month) and 16.8% YoY to 46.44Mn (one-month).

  • Kenya maintained market leadership with a 65.1% GSM share; Ethiopia saw rapid customer and revenue growth.

Financial highlights

  • Group service revenue grew 11.1% YoY to KShs 199.9Bn; EBIT rose 54.5% to KShs 65.2Bn; net income up 52.1% to KShs 42.8Bn.

  • Kenya: Service revenue up 9.3% YoY to KShs 194.0Bn; net income up 22.6% to KShs 58.2Bn.

  • Ethiopia: Service revenue up 136.0% YoY to KShs 6.2Bn; losses reduced by 20% YoY to KShs 15.5Bn, impacted by currency depreciation.

  • Group CapEx declined 25.5% YoY to KShs 34.2Bn; CapEx intensity at 17.2%.

  • Net debt/EBITDA ratio improved to 0.69; free cash flow at KShs 0.5Bn.

Outlook and guidance

  • Maintains full-year 2026 guidance and targets Ethiopia breakeven by FY2027, despite currency and pricing challenges.

  • Focus for H2: Deepen 4G+ device access, scale content, expand financial services, and address Ethiopia's operational and regulatory challenges.

  • FY26 Group EBIT guidance maintained at KShs 144–150Bn; Group Capex expected at KShs 72–78Bn.

  • Confident in delivering full-year strategic priorities and long-term growth.

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Frequently asked questions

Safaricom PLC is a leading telecommunications company based in Kenya, well known for its comprehensive range of services and solutions. These include mobile voice, messaging, data, financial, and converged services, alongside digital services that foster commercial and personal platforms as well as ecosystem partnerships. A flagship offering, M-PESA, is a mobile phone-based money transfer, financing, and micro-financing service launched in 2007, marking a significant milestone in mobile financial services not just in Kenya but across several other countries. Safaricom has also been at the forefront of technological innovation in telecommunications, being the first in Kenya to offer 3G and later 4G/LTE connectivity, and launching a live 5G network in select cities in 2021. The company is headquartered in Nairobi, Kenya, and its shares are listed on the Nairobi Stock Exchange.

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