Kenyans Online React after Safaricom Posts Massive Profits

Kenya's telecommunications giant Safaricom on Wednesday announced a Sh55.29 billion profit for the year ending March 31st, a 14.1 percent increase compared to Sh48.4 billion the previous year.

The results, largely driven by M-Pesa and data revenues, were announced by the telco's Chief Finance Officer (CFO) Sateesh Kamath.

Mobile cash platform M-Pesa revenue increased by 14.2 per cent to Sh62.9 billion while mobile data income grew to Sh36.4 billion, a 24 percent rise.

Here's what Kenyans on Twitter had to say:

@alekidariusz tweeted: "Kwani hawa hawapatagi hasara? Ni ma-profits tupu tu kila time."

@Asamoh_ noted: "Kshs 55.6B profit by @SafaricomPLC is from 4G data and fiber optic.  Now you understand why your bundles get exhausted in seconds."

@Bob_Odhiambo said: "Safaricom's 55.6 billion in profit is nothing but total rip-off of the public. That profit is unimaginable and unrealistic in a struggling economy that's Kenya. While we are doing #SwitchoffKPLC, we should also act on Safaricom's exploitative tendency on data."

@leemakwiny said: "Fools still believe safaricom is  making such a huge profit. Fact is safaricom is stealing from subscribers. We hope @MboyaApollo will focus on them once he is done with."

@sir_dagi noted: " When I grow up, I want to be Safaricom...like how do u make a profit of Sh55.29 billion in a year when most companies retrenched...like how..."

@cobbo3 tweeted:" Safaricom, East Africa’s most profitable company, reports earnings of $790m (EBIT): Hmmh, that’s larger than the budgets of Liberia, Sierra Leone, Burundi, South Sudan, Cabo Verde, Central African Republic, Guinea Bissau, Somalia, or Sao Tome & Principe."

@WillisOwiti noted: " Safaricom profits should now be comparable with corporates from South Africa. East and central africa they are passed them."