Collymore Announces Return As Safaricom Hits 55.29 Billion In Net Income

Safaricom CEO Bob Collymore has announced his return to the helm of the organisation as the company announced a 19.9% increase in Net Income.

Speaking during the company’s Full Year investor briefing, Mr. Collymore, who has been on medical leave since October last year, noted that he was making good progress in his treatment.

“I look forward to being back in action in Nairobi soon,” Collymore said as he announced a 10 per cent growth in revenue to KES224.54 billion.

Safaricom reported net income growth of 14.1% to KES55.29 billion for the year ending 31st March, 2018.

“To achieve these results we sharpened our focus on putting our customers first, delivering relevant products and services, and organizational effectiveness; a strategy that was exceptionally well executed considering the challenging business climate last year,” said Mr. Collymore.

For the year to 31st March, 2019, the company announced it would spend between KES35 billion-KES38 billion in infrastructure expansion.

“In FY 2019 we look to drive long-term shareholder value by deploying next-generation network services, leveraging data analytics and segmentation, guided by our purpose of transforming lives to turn innovative ideas into realities,” said Sateesh Kamath, Finance Director – Safaricom.

From left: Safaricom Director Strategy and Innovation Division, Joe Ogutu engages Safaricom Chairman, Nicholas Ng’ang’a and Safaricom CFO Sateesh Kamath during the Safaricom End Year Results announcements at the Michael Joseph Center Nairobi.

Key highlights of Safaricom PLC Audited Results for the year ended 31 March 2018 include:

  • Service revenue growth of 10.0% to KShs 224.54bn.
  • Outgoing voice revenue grew by 2.4% to KShs 88.96bn.
  • M-PESA revenue increased by 14.2% to KShs 62.91bn.
  • Mobile data revenue grew by 24.0% to KShs 36.36bn.
  • Messaging (SMS) revenue grew by 6.2% to KShs 17.72bn.
  • Fixed service revenue growth of 27.3% to KShs 6.67bn.
  • Total customer base increased by 5.1% to 29.6m.
  • 30-day active M-PESA customers increased by 8.0% to 20.5m.
  • 30-day active mobile data customers increased by 6.2% increase to 17.7m.

M-PESA now contributes 28.0% of Safaricom’s service revenue from 20.9% in FY 2015, highlighting its central position as a key growth driver alongside mobile data, and displacing traditional voice and SMS.