Africa
KenyaSafaricom's Profit Surges on M-PESA Growth
Safaricom reported a 36% increase in its half-year profit, driven by M-PESA revenue surpassing KES 100 billion.
Background
Safaricom is East Africa's largest telecommunications provider, offering mobile, internet, and financial services. Its mobile money platform, M-PESA, is widely used for transactions, impacting daily economic activity across the region.
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Safaricom's Profit Surges on M-PESA Growth
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Safaricom has experienced significant profit growth, largely attributed to the success of its M-PESA mobile money service.
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