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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."
Comments
Bravo bravo our Kenyan made safaricom.So the pple commenting coould have bin very happy if they announced they went negative???Wakenya I think we love to b failures n that’s why we concentrate more with manegatives in our lives or our country?Some of us ni Bure kabisa.We should b asking to have such ceo’s In other companies so they can implement good changes so our economy can continue to grow ndio nchi yetu iwe sawa tuache hizi maunjinga zakuomba pesa kwa wachina nawazungu countries.Bravo bravo safaricom.
The Kenya government bears responsibility for allowing a foreign company to take advantage of its citizens. Safaricom is an exploiter!!!
@dr hanene can u then say UNEP,UN,all foreign embassy’s n all foreign ngo’s r exploiters too.My point is companies b it Kenyan or foreign is there to make profits n I have not heard safaricom workers complaining or demonstrating they get unpaid or mistreated??Kenyans we need to b citizens who see positives things juu we concentrate tooooo much in manegatives n no wonder many of us will remain failures in life n in our brains??
Try going to YouTube in Kenya and see what happens to your buddles.
Oh and wait, you can't sambaza these buddles by the way. Try making a phone call outside Kenya via Safaricom see what happens. Uizi tupu and your gova can't protect you!