Earnings Report /
Global

Safaricom: Sharp recovery from Covid repercussions in H1 22

  • Services revenue grew by 16%, driven by 45% growth in M-Pesa revenue

  • FY 22 performance looks promising, but note the low base effect of H1 21

  • We increase our target price but retain our Hold recommendation. We continue to keep our eye on events in Ethiopia

Safaricom: Sharp recovery from Covid repercussions in H1 22
Ayobami Omole
Ayobami Omole

Research Analyst

Tellimer Research
12 November 2021
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