Safaricom PLC has evolved from a traditional telecommunications firm into a global benchmark for digital transformation. As of early 2026, the company’s market valuation has fluctuated near the KSh 1.2 trillion ($10 billion) mark, making it the most valuable company in East and Central Africa. This dominance is no longer driven by voice calls alone; in a historic shift during the 2025/2026 financial year, mobile data revenue officially surpassed voice revenue, signaling Safaricom’s successful pivot into a “data-first” technology giant.
The Power of the M-Pesa Ecosystem
The crown jewel of Safaricom’s success remains M-Pesa, which celebrated its 19th anniversary in March 2026 by reaching a milestone of 40 million monthly active users in Kenya. M-Pesa is no longer just a money transfer tool; it has matured into a full-scale financial ecosystem under “Fintech 2.0.” Today, it processes over KSh 20 trillion in transaction value bi-annually—a figure that actually exceeds Kenya’s national GDP. Through services like Lipa na M-Pesa (with over 870,000 merchants) and the Ziidi investment platform, Safaricom has embedded itself into every layer of Kenyan commerce.
Regional Expansion and Future Growth
Safaricom’s growth strategy now extends beyond Kenyan borders, specifically into Ethiopia. By the start of 2026, Safaricom Telecommunications Ethiopia had scaled to over 12 million users, with its 4G network covering nearly 60% of the Ethiopian population. While this regional expansion remains in an investment phase, the rapid adoption of M-Pesa in Ethiopia (with over 360 million transactions recorded by early 2026) provides a clear roadmap for Safaricom to become a pan-African digital leader.
Economic and Social Impact
The company’s “True Value” to the Kenyan economy is estimated at over KSh 1.1 trillion, contributing roughly 5% to 6% of Kenya’s GDP. Beyond being a massive taxpayer, Safaricom supports over 1.2 million jobs both directly and indirectly through its vast agent network and supply chain. Its influence on the Nairobi Securities Exchange is equally profound, often accounting for nearly half of the total daily equity turnover, making it the primary barometer for investor sentiment in the region.
Final Word
Safaricom’s journey from a department within the defunct Kenya Post and Telecommunications Corporation to a multi-national tech powerhouse is a testament to its “customer-first” innovation. As it targets doubling its network sites in Ethiopia by 2030 and deepening its 5G footprint in Kenya, Safaricom remains the central pillar of the region’s digital economy.
