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Safaricom’s half year net profit up 20pc to 31.5bn


Safaricom released their  financial year results reporting a net profit of 20.2%.

The telecommunication registered an increase of 31.50 billion in the financial period which ended on September 30 mainly contributed by the strong M-pesa gains and the diversification of their services to new investments opportunities.

Chief Executive Officer Bob Collymore has said the company is extending there M-pesa services globally with the new deal they have signed between them and Western Union expected to be announced in the coming week

They have also registered growth through platforms like mobile data which gave them a revenue of 18.2% and fixed data increasing to 21% in revenues.

The CEO also noted that the company is a key contributor to the country’s economy as they paid 48 billion in tax to the government in the first six months of this year.