With only six months of its financial year done, Safaricom net income has grown by 14.4 per cent thus generating Ksh36.65billion net revenue.
Speaking on Friday during the investors briefing, Safaricom interim CEO Michael Joseph revealed that the giant telco had made massive gains not only in its income but also services.
In the six month period, MPESA revenue grew by 18.2 per cent generating Ksh 41.97 billion.
The company experienced steady growth on M-PESA with 12.4 per cent growth in customer numbers and 11.4 per cent growth in usage
The company noted that the number of chargeable transactions per customer per month increased by 7.8 per cent. The growth excluding gaming was 17.5 per cent
The company also revealed that the International Money Transfer grew at an impressive rate of 45 per cent year over year.
In just 9 months, Safaricom has reported that Fuliza’s revenue makes up half the revenue in the saving and Lending bucket.
The company has also reported a 33.3 per cent growth in customers using more than 100 MBs per month, and, a 70.8 per cent growth in active 4G devices.
The giant telco contributed 6.3 per cent of the country’s Gross Domestic Product and in the process maintained almost one million jobs both directly and indirectly.
The impressive results came at a time when other firms are struggling to establish a solid base in the market.
This has provoked the merger of Telkom and Airtel in a quest to establish a substantial market niche.
The two firms have been lamenting over Safaricom’s dominance but the latter has been dismissing the assertion and attributing its success to the level of investment it has put in place.
The acting Safaricom CEO on Friday said that they were not opposed to the merger of Telkom and Airtel but demanded the two firms to clear their debts with the giant telco accrued from distribution services.
The giant telco has also urged the Communication Authority of Kenya to enhance parity during the distribution of services saying the authority should consider its customer base.
The telco controls 70 per cent of the market.