Safaricom Ethiopia has reported a 130.9 percent year-on-year increase in service revenue for the financial year ending March 31, 2026, reaching 15.9 billion birr as the company expanded its customer base and deepened adoption of mobile data and M-PESA services.
The results were announced as part of Safaricom Group’s FY26 full-year performance update in Nairobi, Kenya, where the Ethiopia business was highlighted as an increasingly important contributor to the group’s long-term growth strategy.
Safaricom Ethiopia said its 90-day active customer base rose to 13.6 million, up 54.2 percent from the previous year, while 30-day active customers reached 10.7 million, an increase of 48.2 percent. The company said growth in mobile financial services was particularly strong, with M-PESA customers more than doubling to 5.2 million during the year.
Mobile data remained the largest source of revenue, bringing in 9.6 billion birr, supported by greater smartphone use and rising demand for digital connectivity. Voice revenue also grew strongly to 3.0 billion birr as network usage and customer engagement continued to climb.
The company said it continued to expand its network infrastructure across the country, reaching 3,504 sites by the end of the financial year. That expansion helped push 4G population coverage to 59 percent, improving access to digital services for millions of Ethiopians.
Safaricom Ethiopia said total funding into the business rose to 2.6 billion US dollars as of March 31, 2026, reflecting continued investment in network rollout, operations, and future growth.
According to Safaricom Group, Ethiopia accounted for 15 percent of the group’s total service revenue growth during the year, underscoring the strategic importance of the market within its Vision 2030 plans.
The group also said losses in the Ethiopian business narrowed significantly year-on-year, with the operation moving closer to EBITDA breakeven, which it targets in FY27.
Safaricom Ethiopia said it remains focused on digital inclusion, wider connectivity, and the expansion of mobile and financial services as Ethiopia continues its digital transformation.
