Kenya's Safaricom FY earnings jump on M-Pesa growth

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Safaricom, Kenya's biggest telecoms operator, said on Friday its core earnings for the full year rose 13.1 percent to 89.6 billion shillings ...

NAIROBI: Safaricom, Kenya's biggest telecoms operator, said on Friday its core earnings for the full year rose 13.1 percent to 89.6 billion shillings , driven by growth in its M-Pesa digital financial business.

"We expect it to go past the 50 percent mark, probably in about three or four years but we are also looking at other revenue streams," said Collymore citing efforts to boost revenue from digital services for farmers and e-commerce. Safaricom said revenue from its mobile data business grew by 6.4 percent, plunging from growth of 24 percent a year earlier.

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