28 March 2026
Safaricom FY2026 Results: April 30 — Profit, Final Dividend & Share Price Preview
Safaricom FY2026 full-year results are being released on April 30, 2026 — 25 days from today. The Safaricom FY2026 results will confirm full-year profit for the twelve months ending March 31, 2026, announce the final dividend, and set the tone for the Safaricom share price for the next six months. With H1 FY2026 already delivering the highest interim profit in the company’s 27-year history — net income up 52.1% to KES 42.78 billion — and management guiding for full-year EBIT of KES 144–150 billion, this is the most closely watched results announcement on the NSE in 2026.
This guide covers exactly what to expect on April 30, what the confirmed H1 numbers imply for the full year, and what Safaricom shareholders should do before and immediately after the announcement.
🟢 Updated April 5, 2026. Results date: April 30, 2026. 🔴 This article will be updated with confirmed figures within 2 hours of the April 30 announcement.
Safaricom FY2026 Results — All Critical Dates
| Date | Event | Status |
|---|---|---|
| April 30, 2026 | Full-year FY2026 results released | ⏳ 25 days away |
| April 30, 2026 | Final dividend announced | ⏳ Pending |
| ~May/June 2026 | Ex-dividend date | TBC — announced April 30 |
| ~June 2026 | Final dividend book close | TBC — announced April 30 |
| ~July 2026 | Final dividend payment to shareholders | TBC |
| May 20, 2026 | Safaricom H1 FY2027 results (next) | Future |
✅ APRIL 30 UPDATE — CONFIRMED RESULTS
(This section will be updated within 2 hours of the announcement)
Full-year profit: TBC April 30 Final dividend per share: TBC April 30 Total FY2026 dividend (interim KES 0.85 + final): TBC April 30 Final dividend ex-date: TBC April 30 Final dividend book close: TBC April 30 Final dividend payment date: TBC April 30 Safaricom share price reaction: TBC April 30 Management guidance for FY2027: TBC April 30
Check back here on April 30 — all figures confirmed and updated immediately after the announcement.
What the H1 FY2026 Results Already Confirmed
The Safaricom FY2026 preview begins with what Safaricom has already reported — the six months to September 30, 2025. These are confirmed figures, not projections.
| Metric | H1 FY2025 | H1 FY2026 | Change |
|---|---|---|---|
| Group service revenue | ~KES 180 billion | KES 199.9 billion | +11.1% |
| Total group revenue | — | KES 204.7 billion | +8.1% |
| Kenya service revenue | ~KES 175 billion | KES 192.13 billion | +9.3% |
| Kenya net income | ~KES 48 billion | KES 59.10 billion | +22.9% |
| Group net income | KES 28.1 billion | KES 42.78 billion | +52.1% |
| Group EBITDA | KES 75.1 billion | KES 101.29 billion | +34.9% |
| EBITDA margin | — | 49.76% | Exceptional |
| M-Pesa revenue | ~KES 77 billion | KES 88.1 billion | +14.1% |
| Active customers | ~52 million | 62.27 million | +19.7% |
| Interim dividend | KES 0.55 | KES 0.85 | +54.5% |
The milestone that matters most: For the first time in Safaricom’s history, mobile data revenue of KES 44.47 billion (+18.21%) overtook voice revenue of KES 41.09 billion. This structural shift — from voice to data — is the single most important long-term signal in these results. Data is a higher-margin, faster-growing revenue line that compounds better than voice.
The Management EBIT Guidance — The Most Important Number in This Article
One figure that many investors have missed: Safaricom management guided for full-year EBIT of KES 144–150 billion for FY2026.
This is not an analyst estimate — it is official management guidance published with the H1 results. It means:
- H1 EBITDA was KES 101.29 billion
- Full-year EBIT guidance of KES 144–150 billion is consistent with a strong H2
- This guidance was given when management had visibility into Q3 (October–December 2025) performance
- Management does not issue guidance they do not expect to meet or exceed
What KES 144–150 billion EBIT implies for net profit: Applying Safaricom’s historical effective tax rate and finance costs, EBIT of KES 144–150 billion implies full-year group net profit of approximately KES 78–85 billion — the base case range for the April 30 announcement.
The Ethiopia Story — The Biggest Change Since the Preview Was Written
The most significant development in the H1 results that changes the FY2026 outlook:
Ethiopia EBIT loss narrowed from KES 37 billion to KES 24.3 billion in H1 FY2026 — a KES 12.7 billion improvement in a single half-year period.
This is faster narrowing than most analysts expected. Ethiopia’s service revenue more than doubled year-on-year to KES 6.19 billion. Active customers reached 11.15 million — up 83.7%. Mobile data contributed 66.7% of Ethiopia service revenue. M-Pesa Ethiopia reached 3.4 million active users.
What this means for April 30: If H2 FY2026 Ethiopia losses narrow at the same pace as H1, the full-year Ethiopia EBIT loss could be approximately KES 40–45 billion — significantly better than the KES 57–74 billion annualised H1 FY2025 loss rate. Every KES 10 billion improvement in Ethiopia losses flows directly to group net profit.
This is why the full-year profit range has a meaningful upside scenario — Ethiopia beating expectations is the bull case catalyst.
Safaricom FY2026 Full-Year Profit — Three Scenarios for April 30
| Scenario | What happens | Full-year profit | vs FY2025 |
|---|---|---|---|
| Conservative | H2 = 80% of H1, Ethiopia losses flat | ~KES 77 billion | +13% |
| Base case | H2 = H1, Ethiopia losses narrow | ~KES 83–85 billion | +22–25% |
| Bull case | H2 beats H1, Ethiopia significantly better | ~KES 90+ billion | +32%+ |
The management EBIT guidance strongly supports the base case. A company guiding KES 144–150 billion EBIT that only delivers KES 77 billion (conservative scenario) would be a catastrophic guidance failure — extremely unlikely given the H1 momentum already locked in.
The bear case risk: H2 includes January–March 2026 — traditionally Safaricom’s slower quarter as consumer spending normalises post-Christmas. Ethiopian birr depreciated 33% against EUR and 16.9% against USD between March–September 2025, amplifying reported losses. If birr depreciation continued in H2, Ethiopia losses could be wider than H1 despite operational improvement.
Safaricom FY2026 Final Dividend — What to Expect on April 30
The most searched question around the Safaricom FY2026 results is the final dividend. Safaricom’s stated policy is to distribute at least 80% of free cash flow to shareholders.
| Full-year profit | 80% payout | Total FY2026 DPS | Final (after KES 0.85 interim) |
|---|---|---|---|
| KES 77 billion | KES 61.6 billion | KES 1.54 | KES 0.69 |
| KES 83 billion | KES 66.4 billion | KES 1.66 | KES 0.81 |
| KES 85 billion | KES 68 billion | KES 1.70 | KES 0.85 |
| KES 90 billion | KES 72 billion | KES 1.80 | KES 0.95 |
Base case final dividend: KES 0.81–0.85 per share — paid approximately July 2026.
Net earnings table — after 5% withholding tax:
| Shares held | Gross final (KES 0.85 est) | Tax (5%) | Net — July 2026 |
|---|---|---|---|
| 500 | KES 425 | KES 21 | KES 404 |
| 1,000 | KES 850 | KES 43 | KES 808 |
| 5,000 | KES 4,250 | KES 213 | KES 4,038 |
| 10,000 | KES 8,500 | KES 425 | KES 8,075 |
| 40,000 | KES 34,000 | KES 1,700 | KES 32,300 |
Key Metrics Analysts Will Watch on April 30
1. M-Pesa revenue growth rate M-Pesa generated KES 88.1 billion in H1 at 14.1% growth. Full-year M-Pesa revenue above KES 180 billion with growth above 15% would be a strong positive signal — confirming that digital payment adoption is accelerating, not plateauing.
2. Ethiopia EBIT loss — the swing factor H1 Ethiopia EBIT loss: KES 24.3 billion (improved from KES 37 billion). Full-year Ethiopia EBIT loss below KES 45 billion would significantly beat market expectations and is the primary upside catalyst for the share price on April 30.
3. Full-year EBITDA vs KES 144–150 billion guidance Safaricom issued this guidance themselves. Hitting the top end (KES 150 billion) would be bullish. Missing the bottom end (below KES 144 billion) would be the biggest negative surprise possible.
4. Data revenue full year H1 data revenue: KES 44.47 billion — surpassing voice for the first time. If full-year data revenue approaches KES 90 billion, it confirms the structural revenue mix shift is permanent and accelerating.
5. Final dividend amount Anything above KES 0.85 per share would signal that management is confident in FY2027 performance. Below KES 0.75 per share would disappoint investors who have priced in the H1 trajectory.
6. Final dividend book close and ex-date These dates are announced alongside results. They determine the last safe buying date for investors who want to qualify. Mark them immediately when announced on April 30.
Safaricom Share Price — Current Level and What to Expect
Current price (April 5, 2026): approximately KES 27.50–29.90 52-week range: KES 17.10–33.95 All-time high: KES 45.25 (August 2021) Analyst price targets: KES 34–44 Distance from minimum analyst target: -15% to -23%
The share price has pulled back from its 52-week high of KES 33.95 to approximately KES 27.50–29.90 in recent weeks — partly reflecting broader NSE market weakness and partly profit-taking ahead of the results.
What typically happens on results day: Safaricom’s share price moves 5–10% in either direction on results day. The direction depends almost entirely on whether the full-year profit is above or below market expectations.
Three price scenarios for April 30:
| Results outcome | Likely share price reaction | Price range |
|---|---|---|
| Profit above KES 85 billion, Ethiopia better than expected | Strong rally | KES 32–36 |
| Profit KES 78–85 billion, in line with guidance | Modest gains | KES 28–32 |
| Profit below KES 78 billion, dividend cut | Significant fall | KES 23–27 |
The asymmetry argument: At KES 27.50–29.90 with analyst targets of KES 34–44, the risk-reward favours the upside — but only if the results confirm the H1 momentum. The management guidance of KES 144–150 billion EBIT makes the bear case unlikely without a catastrophic H2 deterioration.
What to Do Before April 30 — Action Guide
If you already own Safaricom shares: Do nothing before April 30. Your position is established. Wait for the results — then decide whether to hold, add, or reduce based on the confirmed full-year dividend and management FY2027 guidance.
If you want to buy before April 30: The risk is clear — buying immediately before a results announcement means a 5–10% one-day downside if results disappoint. The safer approach is buying at or below KES 27 for a margin of safety. Any price below KES 28 represents a forward yield above 6% on the base case final dividend — acceptable income while you wait.
To qualify for the final dividend: The ex-dividend date and book close will be announced on April 30. Based on prior years, the book close is typically 6–8 weeks after the results announcement — meaning approximately June 2026. You have time to buy after seeing the confirmed results and still qualify for the final dividend. You do not need to buy before April 30 to receive the dividend.
To update your information on April 30: Bookmark this article. It will be updated with all confirmed figures — profit, final dividend, ex-date, book close, payment date, and share price reaction — within two hours of the announcement. Check safaricom.co.ke/investor-relations for the official results PDF.
Safaricom vs The NSE — Context for April 30
At a market cap of approximately KES 1.2 trillion, Safaricom represents approximately 36% of the entire NSE market capitalisation of KES 3.32 trillion. No single company result has more impact on the overall NSE than Safaricom’s April 30 announcement.
When Safaricom rallies significantly on results day, the NASI and Banking Sector Index often move upward simultaneously — driven by investor confidence that flows from a strong Safaricom result into other counters. Conversely, a disappointing result can weigh on the entire NSE.
FAQ – Safaricom FY2026 Results
When are the Safaricom FY2026 results?
April 30, 2026. Full-year results for the twelve months ending March 31, 2026. The final dividend will be announced simultaneously. This article will be updated with confirmed figures within two hours.
What profit is Safaricom expected to report for FY2026?
Management guided for full-year EBIT of KES 144–150 billion. Based on this guidance and H1 group net profit of KES 42.78 billion, the base case full-year group net profit is approximately KES 78–85 billion — approximately 15–25% above FY2025’s KES 68.2 billion.
What is the Safaricom FY2026 final dividend expected to be?
Based on the 80% payout policy and base case full-year profit of KES 83–85 billion, the estimated final dividend is KES 0.81–0.85 per share — paid approximately July 2026. The KES 0.85 interim was paid March 31, 2026. Total FY2026 dividend is estimated at approximately KES 1.66–1.70.
What is the Safaricom Ethiopia loss in FY2026?
H1 FY2026 Ethiopia EBIT loss was KES 24.3 billion — significantly improved from KES 37 billion in H1 FY2025. Ethiopia service revenue more than doubled. Active users reached 11.15 million. The improvement is the key variable for full-year results — narrowing faster than expected is the primary upside catalyst.
Should I buy Safaricom shares before April 30?
At KES 27.50–29.90 with analyst targets of KES 34–44, the risk-reward favours the upside if results confirm H1 momentum. However buying immediately before a results announcement carries event risk. A more conservative approach is to wait for the April 30 announcement and buy within hours if results are strong — you can still qualify for the final dividend as the book close will be approximately June 2026.
What is Safaricom’s full-year EBIT guidance?
Safaricom management guided for full-year EBIT of KES 144–150 billion when publishing H1 results in November 2025. This is the official management figure — the strongest indicator of full-year performance available before April 30.
Preview based on confirmed H1 FY2026 figures and official management guidance. All full-year projections are estimates pending April 30 confirmation. This article will be updated with confirmed figures immediately after the April 30, 2026 announcement. Current Safaricom share price approximately KES 27.50–29.90 as at April 5, 2026. This article is for educational purposes only and does not constitute financial advice.
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- Safaricom Share Price 2026 — price history and analyst targets
- Safaricom Stock 2026: Buy, Hold or Sell? — full investment case
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- NSE Dividend Calendar 2026 — all upcoming payment dates
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AIOSEO: Focus keyword: Safaricom FY2026 results · SEO title: Safaricom FY2026 Results: April 30 — Profit, Final Dividend & Share Price Preview · Meta description: Safaricom FY2026 results on April 30, 2026. Management guides EBIT KES 144–150B. H1 profit KES 42.78B (+52%). Final dividend estimated KES 0.81–0.85. Updated April 2026 — live update on results day.