Safaricom's M-PESA service generated more than Ksh100 billion in revenue in just six months, marking a major financial milestone for Kenya's dominant mobile money platform.
In its half-year financial results released on Thursday, November 5, 2026, Safaricom disclosed that M-PESA revenue grew by 13.6% to Ksh100.1 billion during the six months ended September 30, becoming the first time the service has crossed the Ksh100 billion mark within a half-year reporting period.
The milestone highlights the growing contribution of mobile money to Safaricom's financial performance, with the platform accounting for a significant portion of the company's earnings.
However, alongside the impressive revenue figures, the telecommunications company revealed that a substantial proportion of transactions conducted through M-PESA remained free during the reporting period.
According to Safaricom, 53% of all M-PESA transactions were free or zero-rated, meaning customers did not incur transaction charges for more than half of the activities recorded on the platform.
The company further disclosed that approximately 81% of transactions conducted through Lipa na M-PESA and Pochi la Biashara merchant services remained free.
For consumer transactions, 63% were also zero-rated, highlighting the proportion of mobile money activities that customers could undertake without paying transaction fees.
The figures provide a glimpse into how Safaricom is balancing revenue generation with efforts to keep its financial services accessible to millions of Kenyans who depend on mobile money for everyday transactions.
M-PESA has become a central part of Kenya's financial ecosystem, supporting payments between individuals, businesses and merchants, alongside other financial services.
Safaricom Group Chief Executive Officer (CEO) Peter Ndegwa said the company's financial performance reflected strong execution across its operations as it pursued its ambition of becoming Africa's leading purpose-led technology company.
“We remain firmly focused on delivering our Vision 2030 ambition of becoming Africa's leading purpose-led technology company. Our performance reflects strong execution across our businesses, while Ethiopia's sustained growth and commercial momentum brings us closer to our target of achieving EBITDA break-even by the end of this financial year,” Ndegwa stated.
Safaricom Financials
The M-PESA milestone came as Safaricom reported an overall improvement in its financial performance, with Group service revenue increasing by 13.1% to Ksh226.1 billion.
Group earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 27.5% to Ksh129.2 billion, while net income increased by 35.9% to Ksh58.2 billion.
In Kenya, Safaricom recorded service revenue of Ksh216 billion, representing an 11.3% increase compared to the corresponding period last year.
Its earnings before interest and tax also crossed the Ksh100 billion mark for the first time in a six-month reporting period, reaching Ksh101.8 billion.
Safaricom Chairman Adil Khawaja attributed the performance to the resilience of the company's business model and its long-term strategy.
“The results demonstrate the resilience of Safaricom's business and the strength of our strategy. Importantly, this growth remains anchored in our purpose of transforming lives, ensuring that the value we create is reflected not only in our financial performance but also in the opportunities we enable for our customers, shareholders and the communities we serve,” Khawaja said.
The results underscore M-PESA's growing importance to Safaricom's business, with the mobile money platform continuing to generate billions of shillings while supporting everyday financial transactions across the country.
