Safaricom #ticker:SCOM recorded a Sh314 million loss in M-Pesa Africa –the joint venture it formed with its South African parent firm Vodacom Group — in the year ended March.
The telco made the disclosures in a conference call with analysts. The loss, caused by initial setup costs and lower M-Pesa revenues in the Covid-19 pandemic era, reversed a Sh3.3 billion profit Safaricom booked in the joint venture the year before.
