Kenya: Safaricom Says First-Half EBIT Rose About 40 Percent to 91.1 Billion Shillings as Ethiopia Start-Up Losses Narrow
Kenyan telecoms group Safaricom said on November 5 that its earnings before interest and taxes (EBIT) rose about 40 percent to 91.1 billion shillings (US$701.58 million) in the first half of its financial year. Chief Executive Peter Ndegwa announced the result at a briefing.
Ndegwa said the result was driven by a reduction in start-up losses in Ethiopia and a solid performance in Kenya. Group service revenue rose 13 percent to 226.1 billion shillings in the six months to the end of September, a presentation by Ndegwa showed.
Safaricom launched in Ethiopia in 2022, when the government there started to open up its tightly controlled economy to foreign competition. It is hoping its presence in Africa's second most populous country will power future growth.
Source: Safaricom
Published by GSM · USA (original Chinese edition)
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