Safaricom slips despite higher revenue

Safaricom saw a 23.9% year on year decline in net profits to Kshs 10.6 billion, and a 30.5% decline in earnings.

Revenue was, however, up 14.8%, boosted by an 83% growth in revenues from SMS, MPESA and data, which accounted for 12.9% of the total revenues.

Revenue market share remained at a steady 83%. The weakness was largely down to a fall of 23% in ARPU.