Safaricom injects Sh26b into its Ethiopia unit as profit hits Sh43b

Safaricom has cut its losses in the Ethiopia business by 20.1 per cent to Sh15.5 billion in the six months to September as the telco targets to break even by 2027 amid price correction and currency reforms in the market.

During the period, Safaricom injected a further Sh26.4 billion into the business while keeping an eye on costs, keen to cushion the unit from currency depreciation.

Uncover the stories others won’t tell. Subscribe now for exclusive access

Unlock the Truth Now 》

Unlimited access to all premium content
Uninterrupted ad-free browsing experience
Mobile-optimized reading experience
Weekly Newsletters
MPesa, Airtel Money and Cards accepted

Login

Already a subscriber? Log in

`;
} else {
teaserEl.innerHTML = “”;
}

activeEl.innerHTML = “”;
paywallEl.style.display = “block”;

} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;

var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;

activeEl.innerHTML = `

Offer ends in…

${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds

Subscribe Now & Save

`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}

function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}

updateFlashSale();
setInterval(updateFlashSale, 1000);

Follow The Standard
channel
on WhatsApp

Safaricom has cut its losses in the Ethiopia business by 20.1 per cent to Sh15.5 billion in the six months to September as the telco targets to break even by 2027 amid price correction and currency reforms in the market.

Follow The Standard
channel
on WhatsApp