Safaricom's half year profit to September 2024 has fallen by 17.7 percent to Sh28.1 billion from Sh34.1 billion due to the depreciation of the Ethiopian currency, the birr.
The telco took a Sh17.5 billion hit after the birr depreciated by 51.5 percent over the period under review, forcing Safaricom to revalue its liabilities including foreign currency borrowings and lease agreements.
