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Safaricom’s annual earnings jump by 13 per cent
The company's annual earnings jumped 13.3 per cent before interest and taxation to Sh101.5 billion. During the period under review, mobile data revenue increased to Sh40.67 billion, M-pesa grew by 12.6 per cent to Sh84.44 billion.
Kenya’s biggest telecoms operator, Safaricom Wednesday posted a 13.3% jump in annual earnings before interest and tax to Sh101.5 billion.
The growth was driven by higher revenue from internet provision and its mobile financial services business M-Pesa, as well as a first ever drop in operating expenses, said finance chief Sateesh Kamath.
Revenue from M-Pesa, which allows users to transfer cash, make payments, borrow and save, jumped 12.6% to 84.4 billion shillings, a third of Safaricom’s service revenue.