Download our blog’s APP from Google Playstore using the link here>>>
Thursday, May 13, 2021 – Safaricom PLC announced its full-year results for the year ending March 2021, on Thursday, May 13th, declaring a profit of Sh68.7 billion.
This is a 6% dip from the previous year’s profit, the first time the dominant teleco and most profitable company in the country has announced a year-on-year decline in profit.
Safaricom CEO Peter Ndegwa, announced that Service revenue fell 0.3% to Sh250.35 billion, owing to double-digit growth in the mobile data market, which increased by 11.5 percent year on year to Sh44.79 billion.
On the same breath, Mr. Ndegwa disclosed that the company has Sh26.7 billion held as cash or its equivalent.
According to the financial documents, Kenyans borrowed a staggering Sh351 billion on Fuliza, an increase from Sh244 billion the previous year.
M-Pesa and voice revenue also dipped slightly, with M-Pesa falling 2.1% to Sh 82.64 billion while voice fell 4.6% to Sh 82.55 billion.
The Telco spent Sh28.2 billion to pay M-Pesa agent commissions with the sales and marketing expenditure closing the Sh4 billion mark.
In terms of money transfer, Kenyans sent a total of Sh.63 trillion to one another via M-Pesa, as deposits reached Sh3.7 trillion.
“We remained resilient in a disruptive year, demonstrating strong operational capacity, diligence and commitment in supporting the country, our customers and shareholders through this uncertain time.
“Our immediate focus in the year has been to ensure that network capacity, operations and financial services are prioritized to limit disruptions,” said Peter Ndegwa, Safaricom CEO.
The Kenyan DAILY POST