Kenya’s Safaricom reports 54.5% higher first-half group EBIT

NAIROBI: Kenyan telecoms company Safaricom on Thursday reported group earnings before interest and taxes (EBIT) of 65.2 billion Kenyan shillings ($505.62 million) in the first half of its financial year, up 54.5% from the same period a year earlier.

Its Kenya business continued to be the main profit driver, while losses in key expansion market Ethiopia fell. It launched in Ethiopia in 2022 as the government there opened up the tightly-controlled economy to foreign competition.

Safaricom is partly owned by South Africa’s Vodacom and Britain’s Vodafone.