In a remarkable display of financial prowess, Safaricom PLC's Chief Financial Officer, Dilip Pal, unveiled the telecommunications giant's impressive performance during the Safaricom 2023/2024 Half Year Financial Results Announcement.

"Mobile data revenue recorded a double-digit growth of 12.5 per cent YoY to Sh29.59 billion, with ARPU increasing marginally by 0.8 per cent YoY to Sh231.94," Pal revealed, emphasizing the substantial growth in mobile data revenue and the marginal rise in Average Revenue Per User (ARPU).

Safaricom's continued commitment to providing personalized offers through its Customer Value Management (CVM) initiatives, as stated by Pal, "supports usage and growth."

This strategic approach has played a pivotal role in driving the impressive financial results and the company's sustained success.

Data usage per chargeable subscriber witnessed a robust YoY increase of 11.7 per cent, with subscribers now consuming an average of "3.75 gigabytes" of data, further illustrating Safaricom's leadership in the mobile data market.

Read More

  1. Safaricom launches tech training programme for youth with disabilities
  2. New bill aims to bring buy-now-pay-later companies under CBK control
  3. Safaricom launches 'wai ndai' gaming challenge with cash prizes, Suzuki Altos

Affordability is another key focus for Safaricom, and Pal pointed out that the company has taken substantial steps in this regard.

"We have also enhanced affordability of our data offerings, with the average rate per MB declining further by 9.8 per cent YoY to 6.18 cents during the period," he noted, highlighting the company's dedication to providing accessible and cost-effective data solutions for their customers.

Pal said Safaricom's support for customers in purchasing 4G-enabled devices through their affordable Lipa Mdogo Mdogo (LMM) offering and similar device financing offerings from its partner ecosystem has led to over one million customers enjoying enhanced features and convenience.

The growth in the number of smartphones on Safaricom's network, increasing by 11.4 per cent YoY to 21.37 million also underscores the company's commitment to technological advancement.

Furthermore, Safaricom's investments in 4G and 5G technology have yielded impressive results.

"4G devices grew by 18.8 per cent YoY to 14.39 million, with 51.2 per cent using more than 1 gigabyte, while 5G devices more than doubled, growing by 123.5 per cent YoY to 509.74 thousand," Pal announced, highlighting the rapid expansion of high-speed internet access for their customers.

Mobile data, as a result of these strategic initiatives, now contributes significantly to Safaricom's service revenue, accounting for 18.8 per cent.

These financial results reinforce Safaricom's position as a leader in the telecommunications industry, driven by a commitment to innovation, affordability, and customer-centric solutions.

In a highly competitive market, Safaricom's performance stands as a testament to its dedication to customer satisfaction and technological advancement.

The future looks bright as the company continues to lead in the mobile data sector.