Safaricom HY2027 Results: Analysts Expect 29% Profit Jump as Ethiopia Losses Narrow
Analysts expect Safaricom to report a 29 percent jump in half-year profit when it releases its HY2027 results, with the Ethiopia subsidiary seen approaching breakeven as losses shrink. The anticipated figures position Safaricom as a key bellwether for pan-African telco expansion strategies.
Safaricom Ethiopia: the losses that were actually an investment
An EBITDA loss of KSh27.9 billion in the first half of 2025, narrowing to KSh12.5 billion a year later, and now analysts projecting KSh1 billion for this half — that is not a struggling subsidiary. That is a construction schedule.
The number that explains it: Ethiopia's data revenue has already overtaken voice, KSh9.56 billion versus KSh3.01 billion in the last full year. Safaricom didn't enter Africa's second-most-populous country to sell calls. It is building the same data-and-payments flywheel it owns in Kenya, and the trajectory says the foundation is set.
For anyone watching pan-African expansion, this is the template to study — not whether a market entry loses money early, but whether the losses are falling on a clear line toward something real.
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- Safaricom HY2027 results: Analysts expect stronger earnings as Ethiopia losses shrink · techtrendske.co.ke · T2