Safaricom PLC, Kenya’s leading telecommunications company, reported a 21.7% increase in net earnings for the first half of the year, driven by a 14% rise in Group service revenue to Sh181.4 billion. Despite currency devaluation in Ethiopia impacting net earnings there by 17.7% (to Sh28.1 billion), the Kenyan unit recorded a robust 14.1% profit growth to Sh47.5 billion. CEO Peter Ndegwa attributed the success to a strong execution of strategy, benefiting Kenyan customers and expanding services through innovation.
Safaricom Records Strong Half-Year Profit Growth
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