Africa’s digital transformation has reached a defining moment. What began as a mobile money revolution has evolved into a broader shift toward fully integrated digital economies.
Safaricom is not just Kenya’s most successful company, it is Africa’s most compelling proof point that homegrown digital transformation works.
With KES 414.1 billion in revenue, M-PESA evolving into a continent-ready financial ecosystem, and Ethiopia now contributing 15% to group revenue growth.
As a result, Safaricom is writing the playbook that every African market is watching.
Safaricom’s journey reflects a larger African story,one that demonstrates how locally built digital platforms can scale, drive inclusion, and compete beyond national borders.
Safaricom’s M-PESA Ecosystem
Safaricom’s transformation is closely tied to M-PESA’s evolution from a mobile money service into a broader digital financial ecosystem.
Today, the platform enables users to make payments, save, invest, access credit, and trade shares, extending its role beyond transactions to wealth creation and financial inclusion.
Moreover, this evolution has earned international recognition. In 2026, Ziidi Trader, Safaricom’s M-PESA-powered stock trading platform, was named Fintech of the Year at the African Banker Awards.
The award was given in honour of the telco’s efforts to expand access to capital markets by enabling ordinary Kenyans to buy and sell shares directly from their mobile phones.
Ultimately, this recognition highlights a broader shift in African fintech, where digital platforms are increasingly empowering users not only to move money, but also to build wealth and participate more fully in the formal economy.
Read More: M-PESA Named Among 2026 Top 100 Cross-Border Payment Platforms
The Ethiopia Expansion Bet Begins to Pay Off
Safaricom’s entry into Ethiopia was widely viewed as the ultimate test of whether its success in Kenya could be replicated beyond its home market.
While the venture required significant upfront investment and initially weighed on profitability, FY2026 marked a turning point.
The business gained strong momentum during the year, with subscriber numbers rising to 13.6 million.
In addition, the network coverage expanded to approximately 60% of Ethiopia’s population through more than 3,500 sites.
Meanwhile, service revenue grew to KES 14.1 billion, reflecting increased customer adoption and commercial activity.
As these operational gains began to scale, they increasingly fed into Group performance.
Startup losses narrowed significantly during the year, while Ethiopia contributed 15% of Group revenue growth in FY2026, underscoring its growing strategic importance.
Reflecting on the journey, Safaricom CEO Peter Ndegwa noted:
“We have learned a lot. We started our business 25 years ago, and today we are more than a three-billion-dollar business. We’ve just gone into Ethiopia, and we already have close to 15 million customers in just four years.”
As the market continues to scale, Ethiopia is emerging as a key growth engine for Safaricom and a powerful demonstration that African-built digital business models can successfully expand across borders.
What Safaricom Means for Africa’s Digital Future
Safaricom’s significance today extends beyond its financial performance. The company is demonstrating that African-built digital platforms can scale, innovate, and compete across borders.
As it pursues its ambition of becoming Africa’s leading purpose-led technology company by 2030, Safaricom is increasingly serving as a blueprint for how connectivity, fintech, and digital services can be combined to drive economic transformation across the continent.
