Safaricom has recorded a 103.2% year-on-year growth in its Ethiopian customer base, reaching 8.8 million users by March 2025—just under three years since launching operations in the country in October 2022.
The telco, the first private player to enter Ethiopia’s telecom sector, has rapidly expanded its network and rolled out services including M-PESA. The mobile money platform now has 2.4 million registered users, with transactions valued at Sh20.6 billion during the review period. Safaricom has built 3,141 sites and created 898 direct jobs, 95% of which are held by Ethiopians. CEO Peter Ndegwa noted the growth comes amid significant currency reforms, with Ethiopia now contributing about 20% of the group’s total revenue.
