Safaricom stock (KE0000000547): Kenya's telecom leader navigates digital growth

Safaricom, Kenya's dominant telecom provider, continues to drive mobile money and data services amid East African expansion. Recent financials highlight resilient revenue from M-Pesa, with shares active on the Nairobi Securities Exchange.

Safaricom plc, known for its pioneering M-Pesa mobile money platform, reported steady performance in its latest quarterly results, underscoring its position as East Africa's largest telecom operator. The company generated revenue of 92.1 billion Kenyan shillings in the quarter ended December 31, 2025, up 4.2% year-over-year, driven by data and financial services, according to Safaricom IR as of February 2026.

The stock traded at 24.50 KES on the Nairobi Securities Exchange (NSE) as of May 12, 2026, reflecting a 1.2% increase over the prior week amid broader market gains in East Africa, per NSE data as of May 12, 2026. This movement aligns with investor interest in digital economy plays accessible to US portfolios via global funds.

As of: 13.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Safaricom plc
• Sector/industry: Telecommunications
• Headquarters/country: Kenya
• Core markets: Kenya, Ethiopia, other East Africa
• Key revenue drivers: Mobile money (M-Pesa), voice/data services
• Home exchange/listing venue: Nairobi Securities Exchange (NSE: SCOM)
• Trading currency: KES

Safaricom: core business model

Safaricom operates as Kenya's leading mobile network operator, serving over 42 million customers with voice, data, and financial services. Its cornerstone is M-Pesa, launched in 2007, which processes billions in transactions annually and holds a 96% market share in Kenyan mobile money. The model blends telecom infrastructure with fintech, creating a flywheel of customer loyalty and cross-selling opportunities.

Revenue streams are diversified: 42% from mobile data, 28% from M-Pesa fees, and the balance from voice and enterprise solutions, based on the full-year report for the period ended March 31, 2025, published May 2025 via Safaricom IR as of May 2025. This structure provides resilience against traditional telecom declines.

Expansion into Ethiopia via a 2022 license adds long-term growth, with pilot services reaching 1 million users by late 2025. For US investors, Safaricom offers exposure to Africa's digital boom through ADRs or emerging market ETFs listed on US exchanges.

Main revenue and product drivers for Safaricom

M-Pesa remains the growth engine, contributing 52.4 billion KES in revenue for FY 2024/25 (ended March 31, 2025), a 13% rise, fueled by merchant payments and remittances. Data services grew 12.5% to 86.2 billion KES, supported by 5G rollout in major Kenyan cities.

Enterprise solutions, including cloud and IoT for businesses, are an emerging pillar, up 20% year-over-year in Q4 FY 2024/25. Partnerships with global tech firms enhance these offerings, positioning Safaricom in B2B digital transformation.

Voice revenue, while mature at 35 billion KES, benefits from bundling with data packs, stabilizing margins at 45% EBITDA for the year ended March 31, 2025, per company filings.

Industry trends and competitive position

Africa's telecom sector is shifting to data and fintech, with mobile penetration exceeding 90% in Kenya per GSMA data from 2025. Safaricom's 65% market share dwarfs rivals like Airtel Kenya (30%), enabling pricing power and network effects.

Competitive moats include spectrum holdings and M-Pesa's ecosystem lock-in. Regulatory support for digital inclusion bolsters its lead, though data privacy rules pose minor hurdles.

Why Safaricom matters for US investors

Safaricom provides US investors with a proxy for Africa's consumer tech surge, akin to early mobile adopters in emerging markets. Its NSE listing is accessible via US brokers offering international trading, and inclusion in MSCI Emerging Markets Index since 2018 enhances ETF exposure.

With Kenya's GDP growth at 5.2% in 2025 (World Bank), Safaricom's ties to remittances from US-based Kenyan diaspora add relevance. Dividend yield of 4.1% for FY 2024/25 appeals to income seekers in global portfolios.

Conclusion

Safaricom's entrenched position in Kenya's digital economy, powered by M-Pesa and expanding data services, supports ongoing revenue growth amid regional opportunities. While currency risks and competition warrant monitoring, its financial stability and market dominance provide a solid foundation. US investors tracking emerging market telecoms will find its performance noteworthy in diversified portfolios.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.