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

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

Kenya’s biggest telecommunication firm, Safaricom, realised US$33.07 million as its half-year net income, a six 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.

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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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