Safaricom's Net Profit Grows by Billions

Safaricom has recorded a 38 percent increase in profit after tax for the year ending March 31, 2015, translating to Ksh31.9 billion.

The mobile operator has attributed the impressive increase from last year's Ksh 23 billion to non voice services which mainly include income from data and the M-Pesa mobile money service.

Releasing the results, Chief Executive Officer Bob Collymore said revenue from the two services accounted for 42 percent of the total revenue.

Collymore added that the constant focus by Safaricom on providing quality services highly contributed to the growth across the non-voice revenue streams.

Capital Fm reports that Safaricom Board Chairman has confirmed that Collymore's term in office has been extended by two years from August this year.