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Thursday, January 27, 2022

Safaricom Half Year Results 2021/2022

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Safaricom has released its half year financial results for 2021/2022.

The telecommunications company has reported a strong performance, with good revenues especially from M-Pe


M-PESA revenue recorded strong performance growing 45.8% YoY in H1 FY22 following the return to charging at the beginning of January 2021. Total transaction value grew 51.5% YoY to KShs 13.7Trn while volume of transactions grew 42.0% YoY to 7.3Bn. M-PESA wallet to bank and bank to M-PESA wallet transactions continue to be free and these account for 18.1% of the total value of M-PESA transactions. Chargeable transactions per one month active customers grew 91.9% YoY to 18.1 transactions. Innovation in digital financial services has been a key growth driver for M-PESA. We continue leveraging on technological innovation to enhance access to financial services for consumers and enterprise customers.

Mobile data revenue grew 6.3% YoY weighed down by price rationalization, absorbed tax from excise duty adjustment on data from August 2021 and a lapping effect of the accelerated growth recorded in H1 FY21 at the onset of the pandemic in Kenya. Distinct data bundle customers grew 8.1% YoY to 17.0Mn, data customers using more than 1GB increased 26.7% YoY to 6.8Mn while Active 4G devices grew 37.3% YoY to 9.7Mn. Effective rate per MB declined 27.0% YoY in H1 FY22.

Fixed service and wholesale transit revenue grew 21.1% YoY to KShs 5.5Bn supported by 20.1% YoY growth in enterprise revenue to KShs 3.5Bn and 22.9% growth in consumer revenue to KShs 2.0Bn. FTTH customers grew 17.1% YoY to 153.4k while enterprise fixed customers grew 38.3% YoY to 44.9k.

Capital expenditure for the six months ended 30 September 2021 stood at KShs 22.81Bn growing at 0.3% YoY. 4G, 3G and 2G population coverage now stands at 95.9%, 96.3% and 96.9% respectively.

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