The telco reported a 6.8 per cent drop in profit after tax of Sh68.7 billion for the year ended March 2021 from Sh73.7 billion in the previous period. During this period, Safaricom enabled Kenyans to reduce the impact of the pandemic by waiving fees for transactions below a Sh1,000, which saw free transactions worth Sh4.4 billion processed. Service revenue, mostly from voice and data, recorded a marginal decline of 0.3 per cent to close at Sh250.35 billion driven by double-digit growth in mobile data business, which grew by 11.5 per cent to Sh44.79 billion. M-Pesa and voice revenue declined marginally, with M-Pesa recording a 2.1 per cent drop to Sh82. 64 billion and voice dropping by 4.6 per cent to Sh82.55 billion.

Source: Standard Digital May 13, 2021 08:48 UTC