Safaricom Ethiopia lifted service revenue by 179 percent to 6.5 billion birr in the first half of the 2025/26 fiscal year, demonstrating strong growth in a market shaped by structural and regulatory challenges.

The operator expanded its 90-day active customer base to 11.1 million, up 83.7 percent year-on-year, while its mobile money platform, M-PESA, grew 175 percent to 3.4 million active users, reaching roughly 30 percent market penetration. Voice services now account for 22 percent of total revenue, up from 12 percent last year, helping diversify its revenue mix. Net income improved by 23 percent, narrowing losses to 26.2 billion birr.

Network expansion remains a priority. By September 2025, Safaricom Ethiopia had activated 3,162 sites, achieving 83 percent of its fiscal year 2026 target of 3,800 sites.

Safaricom Telecommunications Ethiopia chief executive Wim Vanhelleputte said the company’s focus has shifted toward optimising its investments and driving customer growth. “We have made significant strides in expanding our network and scaling M-PESA under difficult conditions,” he said. “Our focus remains on accelerating customer acquisition and delivering innovative services that meet the evolving needs of our customers.”

Peter Ndegwa, chief executive of Safaricom PLC and Chairman of the Global Partnership for Ethiopia (GPE), said persistent regulatory constraints and currency depreciation continue to weigh on operations. “Safaricom Ethiopia continues to operate in a challenging environment,” he said.

The GPE, which includes Safaricom PLC, Vodacom, Vodafone, Sumitomo Corporation, British International Investment, and the IFC, has invested more than 2.5 billion US dollars in Ethiopia. The consortium continues to engage with regulators to address policy and structural gaps in the telecom sector.