Safaricom Ethiopia Reports Progress: Investing in Growth, Expanding Access, and Building for the Long Term
May 9 2025
Safaricom Ethiopia demonstrated strong performance across multiple operating metrices for the financial year ended 31st March 2025 (FY25), including increasing commercial momentum, continued expansion infrastructure across the country, and deeper community engagements, whilst navigating the short-term impact of the macroeconomic reforms.
Wim Vanhelleputte, CEO of Safaricom Ethiopia, reflected on the company’s progress and its outlook: “Over the last 12 months, we have increased our customers base and network coverage, thanks to the robust investments and strategic leadership. These positive developments are made possible with the support of the government of Ethiopia, our regulators, our shareholders and our strong team. Notable developments in the country including launching of the capital markets, carrying out forex reforms and opening the financial services sector are excellent indicators to the broader macroeconomic reform efforts that will enhance the private sector’s role in the economy. On our part, we are pleased to note the contributions our business has made in enabling and driving Ethiopia’s digital transformation in communication, connectivity and payments services and will continue to expand our services to support and enable more people to leverage the world-class digital capabilities we provide as we play our part in enabling Ethiopia’s digital future.”
This past financial year saw significant expansion of our network infrastructure, with 4G services now reaching almost 50% of Ethiopia's population through 3,141 strategically deployed sites. The expansion enabled 7.1 million 90 days active data users with each consuming an average of 6.5GB per month. This is a 53% increase in data consumption per user, over the previous fiscal year. By the end of March 2025, we acquired 8.8 million 90-day active voice and data customers, marking a 103% year-on-year increase in our 90-day active customer base.
M-PESA emerged stronger, serving 2.4 million 90-day active customers and processing transactions worth 15.8 billion ETB. New use cases such as fuel payments and inbound international remittances, alongside strategic integrations with banks for services like airtime purchase and utility payments, have broadened the platform’s value.
As a company still in its investment phase, Safaricom Ethiopia incurred an operating loss of about 47 billion ETB. This loss is largely in line with our expectations at this heavy investment stage of the company’s growth, but it also includes the impact of foreign exchange reforms, that we expect to normalize going forward. Notwithstanding, our revenue has grown by 270%, to 7.2 billion ETB in the Fiscal Year 2025, up from 2.7 billion ETB the previous financial year.
Community investment remained a cornerstone of operations, with ETB 100 million allocated to education, health and agriculture initiatives where we donated laptops, routers, with six months of free internet for various schools across the country. We are also proud to note that the Kefeta youth program, which imparts digital skills and provides livelihood training, reached 2 million youth across the country. We continued to support our communities during their times of need including helping the Ashewa community to recover from the unfortunate market fire accident by rebuilding their shops, providing food items to the land slide victims in Gofa zone & earthquake victims in Afar Region, and making a 10 million ETB contribution to the Mekedonia Humanitarian Association.
Safaricom Ethiopia’s annual performance for the fiscal year that ended on 31st March 2025, has laid a strong foundation for the next phase of growth. We remain focused on scaling our impact and building for the future — with confidence, purpose, and a deep commitment to being a reliable partner in the country’s digital transformation. As economic reforms take shape, we will continue to create lasting value, deepen our community impact, and contribute meaningfully to Ethiopia’s long-term prosperity.
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Safaricom Ethiopia Records 130.9% Service Revenue Growth in FY26
24 April 2026
Safaricom Ethiopia Records 130.9% Service Revenue Growth in FY26 Addis Ababa, Ethiopia May 7, 2026 - Safaricom Ethiopia has recorded a 130.9% year-on-year increase in service revenue for the financial year ending March 31, 2026, reaching ETB 15.9 billion, driven by strong customer growth, rising demand for mobile data services, and accelerated adoption of M-PESA across the country. The performance was announced today as part of the Safaricom Group FY26 Full Year Results announcement in Nairobi, Kenya, highlighting Ethiopia’s growing contribution to the Group’s long-term growth strategy. During the financial year, Safaricom Ethiopia’s 90-day active customer base grew to 13.6 million, representing a 54.2% year-on-year increase, while 30-day active customers reached 10.7 million, up 48.2% year-on-year. M-PESA continued to gain strong momentum during the year, with the number of customers more than doubling to 5.2 million, reflecting increasing adoption of digital financial services and mobile money solutions across Ethiopia. Mobile data remained the largest contributor to revenue, generating ETB 9.6 billion during the year, supported by increased smartphone usage and growing demand for digital connectivity. Voice revenue also recorded strong growth, reaching ETB 3.0 billion as customer engagement and network usage continued to rise. Safaricom Ethiopia also continued expanding its network footprint to 3,504 sites, enhancing service quality across the country. By the end of FY26, the company had achieved 59% 4G population coverage, further strengthening access to reliable connectivity and digital services for millions of Ethiopians. As part of its long-term commitment to Ethiopia, total funding into the business increased to USD 2.6 billion as of March 31, 2026, supporting network expansion, operational scale, and future growth ambitions. The Safaricom Group noted that Ethiopia contributed 15% of the Group’s total service revenue growth during the year, underlining the market’s strategic importance within the Group’s Vision 2030 growth ambitions. The Group also reported that losses in the Ethiopian business reduced significantly year-on-year, with the operation moving closer toward EBITDA breakeven targeted for FY27. Safaricom Ethiopia remains committed to accelerating digital inclusion, expanding access to connectivity, and delivering innovative mobile and financial services that support Ethiopia’s digital transformation agenda. Key FY26 Highlights ETB 15.9 billion service revenue, up 130.9% year-on-year 13.6 million 90-day active customers, up 54.2% year-on-year 10.7 million 30-day active customers, up 48.2% year-on-year 5.2 million M-PESA customers, up 119.4% year-on-year 59% 4G population coverage achieved Ethiopia contributed 15% of Safaricom Group’s service revenue growth Total funding into the business increased to USD 2.6 billion
Safaricom Telecommunications Ethiopia PLC has been recognized as the #1 Top Employer in Ethiopia for the third consecutive year and named Africa’s Top Employer 2026 for the first time
03 February 2026
We are proud to share that Safaricom Telecommunications Ethiopia PLC has been recognized as the #1 Top Employer in Ethiopia for the third consecutive year and named Africa’s Top Employer 2026 for the first time, with an outstanding score of 98.08%. This milestone reflects our continued commitment to building a people-centered culture where our employees can thrive, grow, and make meaningful impact. As our CEO Wim Vanhellepute shared: “This recognition affirms our commitment to putting our people at the heart of everything we do. It reflects the culture we are building one that empowers our employees, nurtures talent, and creates an environment where everyone can grow and perform.” Thank you to all our employees for making this achievement possible. We are proud to share that Safaricom Telecommunications Ethiopia PLC has been recognized as the #1 Top Employer in Ethiopia for the third consecutive year and named Africa’s Top Employer 2026 for the first time, with an outstanding score of 98.08%. This milestone reflects our continued commitment to building a people-centered culture where our employees can thrive, grow, and make meaningful impact. As our CEO Wim Vanhellepute shared: “This recognition affirms our commitment to putting our people at the heart of everything we do. It reflects the culture we are building one that empowers our employees, nurtures talent, and creates an environment where everyone can grow and perform.” Thank you to all our employees for making this achievement possible.
British Foreign Secretary Visits Safaricom Ethiopia, Underscoring UK Commitment to Investment and Job Creation
02 February 2026
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