Safaricom Half-Year Profit Jumps 36% to $447.8 Million as Ethiopia Losses Narrow 43%
Safaricom has reported a 35.9 percent rise in half-year profit to KSh58.2 billion, with losses from its Ethiopian subsidiary narrowing 43 percent as that operation approaches a new financial phase. The results confirm the trajectory analysts had anticipated, marking what the company describes as a landmark period for its pan-African expansion.
Safaricom Ethiopia: EBITDA loss down 96.5% — the construction is nearly done
The number that changes everything this half: Safaricom Ethiopia's EBITDA loss didn't just narrow — it collapsed by 96.5%, to KSh434 million. That is a rounding error for a business of this scale.
The operating loss is still real at KSh11.4 billion, mostly depreciation on the infrastructure already in the ground. But EBITDA breakeven — the point where the business generates more cash than it spends running itself — is now a matter of months, not years.
For anyone watching pan-African expansion, the Ethiopia bet is now much harder to dismiss. And for Vodacom, whose revised growth targets rest heavily on Safaricom, the construction schedule just delivered on time.
2 sources
- Safaricom’s H1 profit rises 36% to $447.8m as Ethiopia losses fall 43% · technext24.com · T2
- Safaricom’s half-year profit climbs to KSh58.2 billion as Ethiopia’s losses narrow sharply · techtrendske.co.ke · T2