Last week on Friday, 4th November, 2016, leading Telco in Kenya, Safaricom Limited, announced its un-audited HY2017 financial results for the period ended 30th September 2016. In a new turn of events, the non-voice services lead voice revenue as the main source of revenue for the firm. This is a record first time this is happening. The main non-voice services include M-Pesa and Mobile data.
For this period Safaricom’s total revenue amounted to Ksh.98 billion which is a 15.4 percent growth. Of this, non-voice service revenue accounted for Kh.52.3 billion while voice service revenue stood at Ksh.45.7 billion.
“Service revenue grew by 15.4% to Ksh.98.0bn driven predominantly by growth in 30 day active users and increased usage on non-voice services mainly M-Pesa and Mobile data. Non-voice service revenue accounted for 53.4% of service revenue, recording a growth of 31.7% to Ksh.52.3bn. Overall voice service revenue now stands at 46.6% of service revenue and remained resilient growing by 1.1% to Ksh.45.7bn.”
– Bob Collymore, the CEO of Safaricom
From the look of things above voice revenue seems to be almost stagnating with a growth rate of only 1.1 percent. This could possibly be that individuals are more dependent on social messaging platforms such as WhatsApp and Messenger their communication needs. This number may significantly drop given that WhatsApp is already testing the video calling feature alongside the already mainstream data calling option.
According to Safaricom’s un-audited results released last Friday, M-Pesa revenue recorded a growth of 33.7 percent to Ksh.25.9 billion driven by 12.2 percent increase in 30 day active M-Pesa customers to 17.6 million and a 38.4 percent growth in monthly usage per customer to 9.3 transactions per month.
The following is what Safaricom’s CEO had to say in regard to how enterprises received the cashless platform, Lipa na M-Pesa:
“We had over 50,000 merchants who were active on a 30 day basis as at the end of September 2016.”
-Bob Collymore, the CEO of Safaricom