SAFARICOM SCOM.NR , Kenya’s biggest telecoms operator, expects core earnings to return to growth this year after the coronavirus crisis hit revenue from financial services and calls in the year to the end of March.
Growth will come from a recovery in the company’s financial services platform, M-Pesa, and a focus on increasing 4G network coverage, the company said.
“We are not slowing down investments,” CEO Peter Ndegwa told Reuters after an investor briefing.
Safaricom is also running a scheme to provide 4G enabled phones to customers through affordable credit, partnering with global firms like Google (NASDAQ:), he said, to drive internet usage.
The company, partly owned by South Africa’s Vodacom and Britain’s Vodafone , expects earnings before interest and taxes to rise to 105 billion shillings ($981 million) and 108 billion shillings in the year to the end of March 2022.
Rapid growth in active customers will also help
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