Mpesa Lifts Safaricom's Net Profit to 63.4 Billion During this Financial Year ended in March 2019.
Mpesa Lifts Safaricom's Net Profit to 63.4 Billion During this Financial Year ended in March 2019.

Safaricom has once again made a tremendous improvement after it announced a registration of 14.7% increase in net profit which makes it 63.4 Billion during this financial year that has ended in March 2019.

Mpesa, been one of the Vital contributors for Safaricom, it has made an increase by 19.2% to 74.99 Billion Ksh.  

From the all the sources, that is Mpesa, Mobile Data, Messaging and fixed services all have shot up with each at 19.2%, 6.4%, 1.3% and 22.7%.

Despite having stiff competition from Airtel and actually thinking it will lose clients, the company has also increased the customer base which has grown with 7.7% to 31.8 million.

ALSO READ  Union Issues Seven-day strike notice in all counties if workers not paid by Monday

 The company is also issuing dividends worth 50 billion shillings, 1.25 shillings per share an increase by 13.6 percent from the previous year to a dividend yield of 4.2 percent.

With this improvement now, Safaricom has announced plans to double its internet coverage by hitting 5000 stations by 2020 which will cover all the major towns in Kenya a project that intends to spend over 36 Billion.

This year, Safaricom has invested over 38 Billion in providing internet to Kenyans.

ALSO READ  Prophet Owuor's bishop banned from the church after implication in Sex Scandal

LEAVE A REPLY

Please enter your comment!
Please enter your name here