Safaricom, Kenya’s leading telecommunications company, has announced that its month profits increased by 12.1 per cent to Sh37.05 billion during the six months ending in September.

Safaricom says its M-Pesa mobile money revenues drove its bounce back after the free transactions initiated by the government during the pandemic in 2020 came to an end in 2021.

The results for April to September, according to the telcos, also saw revenues from its voice and message rise after President Uhuru Kenyatta lifted strict restrictions installed to curb Covid-19.

Safaricom’s M-Pesa income spiked by 45.8 percent (Sh16.4 billion) to Sh52.3 due to the return of charges on transactions under Sh1,000 in January.

The telecommunications company also indicated on Wednesday that improved business activity also contributed to a 16.9 percent rise in revenue from service to Sh138.4 billion.

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“Growth in service revenue was mainly attributed to M-Pesa revenues as well as mobile data, voice and fixed business," Safaricom CFO Dilip Pal at the investor briefing on Wednesday.