Fees waiver leads to first drop in net income for Safaricom in a decade
A nine-month waiver on mobile-money service fees during pandemic dented revenue
13 May 2021 - 22:43
Kenya’s biggest telecoms operator, Safaricom, partly owned by Vodacom, posted its first decline in full-year net income in a decade after a nine-month waiver on mobile-money service fees dented revenue.
Net income dipped 6.8% to 68.7-billion shillings ($642m) in the 12 months through March, according to a presentation on Thursday. This compares with a median estimate of 69.28-billion shillings, according to data compiled by Bloomberg...
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