Safaricom’s net earnings excluding Ethiopia rebounded to pre-COVID 19 levels, to register a 1.4% growth year-on-year, to Ksh 69.6 billion.
However, net profit including Ethiopia dropped by 1.7% to Ksh 67.5 billion.
Safaricom CEO Peter Ndegwa attributed the net loss registered in Ethiopia to the market conditions but expects the firm’s interests in Ethiopia to break-even by year four of operation.
Mr Ndegwa said Safaricom Ethiopia plans to bring mobile financial services to Ethiopia….
