Safaricom full year profit jumps 44% (Africa)

www.WirelessFederation.com/news: A full year profit jump of 44% has been announced by Kenya’s largest mobile network operator by subscribers, Safaricom. The increase has been attributed to the rise in the revenue from data services including its mobile money transfer service MPESA.

The net income increased from KES10.5 billion a year earlier to KES15.15 billion (USD190 million) in the twelve months to March 31, 2010. 19% rise in the sales to KES83.96 billion has also been recorded.

Telkom Kenya, Zain and Essar Telecom Kenya are the main competitors of Safaricom in Africa, which is 40% owned by Vodafone. At the end of March it claimed 15.79 million customers.