Kenya: Safaricom Six-Month Profit Rises to U.S.$249 Million

Safaricom has announced a 9.5 per cent increase in net profit to $249.4 million for the six months ended September this year, barely a week after its affiliated firm Vodacom Tanzania sold its $58.5 million stake in Helios Towers Africa, to narrowly avoid posting a loss in the third quarter of this year.

Safaricom chief financial officer Sateesh Kamath, sitting in for the firm's chief executive Bob Collymore who has taken sick leave, said the six-month rise in profit was backed by the strong performance of its mobile money unit M-Pesa and its data business.

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