Safaricom Ethiopia, the subsidiary of Kenya’s largest telecom operator, narrowed its losses by 65% to $165.7 million in 2024.
The group company posted an 11% jump in 2024 full-year profit to $540 million, buoyed by stabilising losses from its Ethiopian expansion and steady growth in mobile money and data in Kenya.
Safaricom is laying the rails for mobile money dominance in a country where 90% of transactions are still cash-based.