Safaricom company has continued with its sterling performance in the Kenyan market following growth in its profit in the full year ended December 2021.
Its net profit (excluding Ethiopia) grew by 12.2 percent hitting Sh77 billion.
Mobile money platform M-Pesa remained Safaricom's major cash cow after it brought in Sh107.7 billion during the year from Sh82.6 billion in the previous year.
This is the first time the M-Pesa revenues are crossing the Sh100 billion mark.
M-Pesa transactions worth Sh29.5trillion were handled during the year.
Earnings from the platform contributed 38.3 percent of Safaricom's service revenue.
Safaricom made a total of Sh281 billion in revenue in the year, up from Sh250.4 billion recorded in 2020.
This was mainly driven by growth in M-Pesa, mobile data, and fixed revenue.
“We are proud of our strong performance that reflects our focus on solving customer issues and societal challenges,” said Safaricom CEO Peter Ndegwa.