Safaricom makes Sh50bn profit from M-Pesa unit

Safaricom’s mobile money business made a profit of Sh50 billion before tax in the year ended March, contributing nearly half of the company’s total gross earnings and solidifying M-Pesa’s position as its most profitable service.

The telco in its latest annual report outlined the share of profits attributable to the mobile money business for the first time, having previously just reported the contribution to revenues.