Diving Into Safaricom Limited’s 2017 Financials Report

Safaricom CEO Bob Collymore
Safaricom CEO Bob Collymore

Early this morning, Safaricom Limited made public their financials report for the year 2016/2017. The report included the announcement of M-Pesa 1 Tap, which the company termed as the future of M-Pesa payments.

Included in the report as well, Safaricom noted that 90% of Kenya’s population was covered by mobile and that Telcos have contributed 8% of the GDP.

Flex, Blaze, Bonga Points and other services

Safaricom claims that Flex offers 35% more value compared to other bundles, however the company did not reveal how many Flex users are there so far. It was also revealed that Blaze has 1.6 million subscribers and My Safaricom App was said to have over 400,000 users.

5 million Safaricom subscribers use My Data Manager service while 2.1 million subscribers use My Subscription Manager service.

The story ibambe offer has seen users redeem up to Ksh.25 billion in airtime, Bonga points has accumulated Ksh.3.5 billion in rewards and Ksh.2.3 billion has been redeemed so far.

Safaricom Fiber To The Home

It was revealed that so far the Safaricom fiber cable passes through 53,000 homes. The company aims to expand to areas that are underpenetrated and there were hints that Safaricom could soon launch its own video on demand service or something of that sort (You read it here first).

In case you’re interested in knowing how good Safaricom FTTH service is, head over to this forum entry.

 The Numbers

Safaricom revealed that they have gained 3 million more subscribers in the past one year. The company also stated that they have invested over Ksh.38 billion to improve their infrastructure.

Safaricom’s Net profit was up by 18.3%, to hit Ksh.45.1 billion up from Ksh38.1 billion last year.
Voice Revenue stands at Ksh.93.5 billion up from Ksh.90.8 billion.
SMS Revenue saw a dip of 3.7% at Ksh.16.68 billion compared to last year’s Ksh.17.3 billion.
Mobile Data Revenue hit Ksh.29.3billion up from Ksh.21.2 billion.
M-PESA Revenue is at Ksh.55.1 billion.

Total Revenue stands at Ksh.212.9 billion up from Ksh.195.7 billion in 2016.