Safaricom Ethiopia Hits 10 Million Users Amid Rapid Expansion.

Safaricom Plc shares rose 4.8% on Tuesday, closing at KSh 26.20, their highest since October 2022, after the telco company reported that its Ethiopian subsidiary has crossed the 10 million 90-day active customer mark, The subsidiary is now adding over 31,000 new subscribers daily, just four years after receiving its operating license.

By March 2025, the company had reached 8.8 million active users, doubling year-on-year.

Despite currency depreciation, operating losses have narrowed, with adjusted EBITDA (excluding forex effects) showing strong improvement.

• Mobile Data Users: 7.1 million (2.5x YoY)
• Voice Users: 7.8 million (2.2x YoY)
• Messaging Users: 4.8 million (2.6x YoY)
• M-PESA Users: 2.4 million (1.7x YoY)

The telco’s 4G network now includes 3,141 live sites, reaching over 50% of Ethiopia’s population across 150+ towns and cities. Read More…

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