Safaricom profit drops 6pc to Sh33bn on free M-Pesa transactions

Safaricom Chief Executive Officer Peter Ndegwa. FILE PHOTO | NMG

Safaricom #ticker:SCOM half-year net profit fell six percent to Sh33.07 billion with M-Pesa revenue dropping the most on account of free transactions to support customers during Covid-19 period.

The results, covering between April and September also saw voice and messaging revenue dip in the period that coincided with rising Covid-19 infections that forced the state to enforce disruptive measures such as curfew and ban on social gatherings.

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Note: The results are not exact but very close to the actual.