Safaricom expects return to earnings growth after pandemic hit

NAIROBI: Safaricom, 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.