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Safaricom Sets Record as First  Company to Surpass Billion-Dollar Earnings.

Despite facing regulatory challenges and market competition, Safaricom’s resilience and agility have allowed it to seize emerging opportunities, particularly the swift adoption of digital services during the global pandemic.

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Under CEO Peter Ndegwa’s visionary leadership, Safaricom has made significant strides in digital transformation. The company’s proactive use of technology to enhance customer experience, streamline operations, and launch new digital products has bolstered revenue streams and strengthened its competitive advantage.


: This is a testament to its strategic foresight, operational excellence, and unwavering commitment to customer satisfaction and innovation

By Charles Wachira

Safaricom Limited has achieved a historic milestone by becoming the first regional company to exceed billion-dollar earnings in a fiscal year. This highlights its dominant position in Kenya and East Africa’s telecom sector.

 The company reported revenues of $1.2 billion for the fiscal year ending March 2024, marking a significant increase from the previous year’s $900 million.

 This achievement was announced during Safaricom’s recent earnings call, underscoring its strategic expansion through network infrastructure investments and 4G coverage expansion across Kenya.

CEO Peter Ndegwa’s leadership in digital transformation initiatives, including mobile money services like M-PESA advancements, has driven revenue growth.

Safaricom has strengthened its brand equity and customer loyalty through initiatives like the Safaricom Foundation, demonstrating its commitment to corporate social responsibility.  Despite regulatory challenges and market competition, Safaricom’s resilience and agility have enabled it to capitalise on emerging opportunities, including the rapid adoption of digital services amidst the global pandemic. Safaricom aims to sustain its growth momentum with continued investments in 5G technology and expansion into new market segments.

Indeed, Safaricom’s surpassing billion-dollar earnings underscore its strategic foresight and operational excellence and set a new benchmark for the East African business community. As the telecom giant continues to innovate and enhance customer satisfaction, it remains poised to lead the region’s telecommunications industry.

Strategic Expansion and Diversification

Safaricom’s journey to surpass the billion-dollar mark has been defined by strategic expansion and diversification of its service offerings. By continually investing in its network infrastructure and expanding its 4G coverage across Kenya, Safaricom has solidified its position as the telecom provider of choice for millions of customers. The company’s relentless pursuit of innovation, particularly in mobile money services through M-PESA, has also played a pivotal role in driving revenue growth.

Leadership in Digital Transformation

Under the visionary leadership of CEO Peter Ndegwa, Safaricom has spearheaded significant advancements in digital transformation initiatives. The company’s proactive approach to leveraging technology to enhance the customer experience, streamline operations, and introduce new digital products has bolstered its revenue streams and fortified its competitive edge in the market.

Commitment to Corporate Social Responsibility

Beyond financial success, Safaricom’s commitment to corporate social responsibility (CSR) has cemented its reputation as a socially conscious corporate entity. Initiatives like the Safaricom Foundation, which focuses on education, health, and economic empowerment, have positively impacted communities across Kenya and contributed to Safaricom’s brand equity and customer loyalty.

Navigating Challenges and Seizing Opportunities

Despite facing regulatory changes and market competition challenges, Safaricom has consistently demonstrated resilience and agility in adapting to evolving market dynamics. The company’s ability to capitalise on emerging opportunities, such as the rapid adoption of digital services amid the global pandemic, has further fueled its financial growth trajectory.

Future Outlook

Safaricom remains committed to sustaining its momentum and driving further growth. With ongoing investments in 5G technology, expansion into new market segments, and continued innovation in digital services, Safaricom is poised to maintain its leadership position and set new benchmarks for the telecom industry in the region.

In conclusion, Safaricom’s surpassing billion-dollar earnings are a testament to its strategic foresight, operational excellence, and unwavering commitment to customer satisfaction and innovation. As the first regional company to reach this significant milestone, Safaricom has made history and set a high standard for the East African business community to aspire to in the years to come

Keywords:Safaricom billion-dollar milestone:Telecom sector growth in East Africa:M-PESA digital transformation:Network infrastructure expansion Kenya:Safaricom corporate social responsibility

Charles Wachira, Managing Editor of businessworld, has disproportionately worked as a foreign correspondent in Nairobi, Kenya. Formerly an East Africa correspondent with bloomberg, covering the business beat he has since been published by a legion of other authoritative global news platforms including Global Finance Magazine, Toward Freedom, Earth Island Journal, and Dialogue. earth and so on. He is also a co-author of, Success to Significance, a biography of pre-eminent global industrialist and renowned philanthropist Dr. Manu Chandaraia. He’s an alumnus of the University of Nairobi and Nairobi School.

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Kenya & Mauritius Lead East Africa’s Cybercrime Battle

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crime rates in kenya

: Kenya and Mauritius face rising DDoS attacks, topping East Africa. Discover
what drives these threats and how nations are fortifying defences.

Kenya and Mauritius are increasingly becoming hotspots for cybercrime in East Africa,
according to the recently released NETSCOUT 1H2024 DDoS Threat Intelligence
Report (TIR).

Both countries recorded the highest volumes of Distributed Denial-of-Service (DDoS)
attacks in the region, with cybercriminals deploying increasingly sophisticated, multi-
vector techniques to disrupt services.

DDoS SURGE IN KENYA AND MAURITIUS

Bryan Hamman, Regional Director for Africa at NETSCOUT, emphasised the growing
threat.

“Kenya and Mauritius are bearing the brunt of DDoS attacks in East Africa. Attackers
are not only increasing the volume but also leveraging multi-vector approaches that
make detection and mitigation far more challenging,” Hamman explained.

In Kenya, where the tech ecosystem thrives on innovations such as M-Pesa and
expansive mobile banking services, the Communications Authority of Kenya (CA)
reported a 12% increase in cyberattacks in the first half of 2024, translating to 459
million incidents.

Similarly, Mauritius, recognised as a financial hub, saw a sharp rise in attacks on its
financial services sector, a key contributor to its GDP.

WHAT DRIVES THE TARGETTING OF KENYA AND MAURITIUS?

Technological Advancement:

Both nations are at the forefront of digital transformation in East Africa, which,
while driving economic growth, also exposes vulnerabilities. Hamman noted,
“The more interconnected these economies become, the larger the attack
surface for cybercriminals.”

Economic Significance:

Kenya’s dominance as a regional tech hub and Mauritius’s role in global financial
services make them prime targets for malicious actors seeking to exploit high-
value systems.

Insufficient Cybersecurity Infrastructure:

Despite advancements, gaps in cybersecurity frameworks persist. For instance,
Kenya’s Data Protection Act of 2019 and Mauritius’s cybersecurity strategy have
struggled to keep pace with the sophistication of modern cyber threats.

COMPARISON WITHIN EAST AFRICA

While Kenya and Mauritius grapple with these challenges, regional peers like Rwanda
and Tanzania have demonstrated resilience.

  • ● Rwanda: Known for its proactive measures, such as the National Cyber Security
  • Authority (NCSA), Rwanda has kept DDoS incidents relatively low. In the first half
  • of 2024, the country reported only 36 million attacks.
  • ● Tanzania: With the establishment of its Computer Emergency Response Team
  • (CERT) in 2020, Tanzania has reduced phishing and ransomware incidents by
  • 35% and 20%, respectively.


IMPACT OF CYBERCRIME

The repercussions are severe, affecting sectors critical to economic stability:
● Kenya: The banking and telecommunications sectors, central to the country’s
GDP, have faced significant disruptions. Safaricom reported a two-hour outage in
April 2024 linked to a DDoS attack, costing millions in lost revenue.
● Mauritius: The financial services industry has suffered data breaches and
operational downtimes, undermining investor confidence.

RECOMMENDATIONS FOR ACTION

Enhanced Cybersecurity Policies:

Governments must update regulations to reflect evolving threats. Public-private
partnerships can also drive innovation in defence mechanisms.

Regional Collaboration:

Establishing an East African Cyber Defense Alliance could enable nations to
share threat intelligence and resources.

Investment in Education and Awareness:

Cyber hygiene training for individuals and businesses can help minimize
vulnerabilities, particularly against phishing attacks and social engineering
tactics.

Adoption of Advanced Technologies:

Leveraging tools like AI-driven threat detection can provide real-time responses
to attacks.

CONCLUSION

As cybercriminals grow bolder and more sophisticated, Kenya and Mauritius must
accelerate efforts to fortify their defences. “A regional approach that blends technology,
policy, and awareness is key to turning the tide against these threats,” Hamman
concluded.
The path forward is clear: a united East African front, coupled with robust internal
reforms, can transform the region from a target to a cybersecurity stronghold.

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MTN Uganda Reports 29.6% Profit Rise to Shs 459.4bn in 2024

MTN Uganda’s revenue from mobile data and MoMo services jumped over 20% year-on-year, driven by growing demand for digital financial solutions and a strong focus on expanding MoMo’s reach.

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MTN Uganda CEO Sylvia Mulinge credits the 29.6% profit increase to effective cost management and digital transformation efforts, with infrastructure investments and digital finance driving growth.

: MTN Uganda’s profit climbs by 29.6% to Shs 459.4bn for 2024’s first nine months, driven by digital growth, fintech, and network expansion strategies.

MTN Uganda reported a 29.6% increase in profit after tax, reaching Shs 459.4 billion for the first nine months of the year, compared to Shs 354.5 billion during the same period in 2023. 

This growth reflects the telecom giant’s strategic focus on expanding digital services and enhancing network coverage to capture more market share in Uganda’s competitive telecommunications sector.

          CEO Cites Strategic Expansion and Digital Focus

Chief Executive Officer Sylvia Mulinge attributed the profit jump to effective cost management and a strong emphasis on digital transformation.

 “Our increased investment in infrastructure and focus on digital financial services continue to yield positive results, as seen in this remarkable growth,” she stated during the earnings release.

    Fintech and Data Services Lead Revenue Growth

Mobile data and MTN Mobile Money (MoMo) services played a significant role, as revenue from these segments has grown by over 20% year-on-year. 

With Uganda’s demand for digital financial solutions rapidly increasing, MTN Uganda’s focus on expanding MoMo has led to a substantial boost in customer uptake, contributing to a large portion of this year’s growth.

  Investments in Network Infrastructure Pay Off

MTN Uganda’s ongoing investments in 4G and 5G network infrastructure have also proven profitable.

 In 2024, the company increased its capital expenditure to Shs 200 billion, up from Shs 160 billion in 2023, to meet the growing demand for faster and more reliable internet. “MTN Uganda has successfully captured the increased demand for reliable and faster internet,” said Henry Tumusiime, a telecom analyst based in Kampala. “Their proactive approach to enhancing data service capabilities has kept them ahead, especially as the economy becomes more digitised.”

          Youth-Focused Campaigns Expand Subscriber Base

MTN’s early 2024 campaign aimed at youth — offering affordable data bundles and free educational content — attracted over 500,000 new users, expanding its subscriber base to 17 million, up from 16.5 million in 2023. This campaign has been instrumental in further driving revenue growth.

Outlook: Commitment to Quality and Digital Inclusion

Looking forward, MTN Uganda remains focused on delivering high-quality, affordable services to enhance digital inclusion. “As we approach year-end, our strategy remains anchored on delivering quality service, ensuring affordability, and growing digital inclusion,” Mulinge added.

MTN Uganda’s performance aligns with MTN Group’s broader strategy to connect Africa and strengthen digital finance solutions across the continent.

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Skyleader 600 Launch in Tanzania: Boosting Local Aircraft Manufacturing

The Skyleader 600 marks a pivotal moment for Tanzania, not only in aviation but in its broader industrial aspirations.

With its maiden landing at Julius Nyerere International Airport, the aircraft stands as a symbol of Tanzania’s growing capacity to innovate, manufacture, and compete on the global stage.

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The Skyleader 600: A Game-Changer in African Aviation Designed with business travelers in mind, the Skyleader 600 can carry two passengers, offering a cost-effective alternative for long-distance travel. The aircraft is praised for its modern design, affordability, and low maintenance costs. Powered by petrol fuel, it addresses the growing demand for accessible and efficient transportation across Tanzania and the wider African market.

Discover Tanzania’s aviation breakthrough with the Skyleader 600, the first locally manufactured ultralight aircraft, unveiled at TIMEXPO 2024 in Dar es Salaam

    By Charles Wachira

In a groundbreaking achievement for Tanzania and Africa’s aviation sector, AIRPLANE Africa Limited (AAL), based in Morogoro, launched the Skyleader 600, marking the first ultralight aircraft manufactured in the country.

 The official unveiling took place at TIMEXPO 2024 in October 2024, setting a new milestone for local manufacturing and economic potential.

 The Skyleader 600: A Game-Changer in African Aviation Designed with business travelers in mind, the Skyleader 600 can carry two passengers, offering a cost-effective alternative for long-distance travel.

 The aircraft is praised for its modern design, affordability, and low maintenance costs. 

Powered by petrol fuel, it addresses the growing demand for accessible and efficient transportation across Tanzania and the wider African market.

 AAL’s Director, David Grolig, proudly remarked at the launch, “This is a historic moment not just for AIRPLANE Africa Limited, but for Tanzania. We have built something that will change the way people travel in this country and beyond.”

 His statement reflects the company’s larger vision to transform Tanzania into a key player in ultralight aircraft manufacturing in Africa.

 From Morogoro to the Skies: AAL’s Journey The journey to the Skyleader 600 began in 2019, when AIRPLANE Africa Limited was established in Morogoro. 

The company blended local Tanzanian expertise with Czech aviation technology, a country renowned for its ultralight aircraft production.

 This strategic collaboration has fostered a new generation of Tanzanian aviation professionals, thanks to internships and training programs designed to enhance skills and create jobs.

 “The partnership with Czech aviation experts was crucial,” said Grolig. “It’s a blend of global expertise and local ambition. We’re showing that when we work together, we can achieve remarkable things.”

 This combination has allowed AAL to tailor the Skyleader 600 to meet the unique needs of Africa’s business and private aviation sectors.

 TIMEXPO 2024: Showcasing Tanzanian Innovation The TIMEXPO 2024 trade fair in Dar es Salaam served as the launch platform for the Skyleader 600.

 This event, which highlights Tanzanian manufacturing, drew attention from global exhibitors and dignitaries.

 The Minister for Industry and Trade was in attendance, noting the significance of AAL’s achievement: “This is a symbol of what we can achieve when we invest in our local industries. The government is committed to supporting such initiatives as they create jobs, foster innovation, and help us become more self-reliant.”

 The launch has bolstered Tanzania’s image as a country capable of innovation, especially in high-tech sectors like aviation.

 The Skyleader 600 is expected to open new economic opportunities in tourism, pilot training, and aircraft maintenance services.

 Government Support and Economic Impact The Tanzanian government’s collaboration with AIRPLANE Africa Limited and its European partners has been key to the success of the Skyleader 600.

 Support from regulatory authorities and the provision of trade incentives reflect the government’s commitment to fostering local industries that reduce reliance on imports.

 Grolig acknowledged the government’s role, stating, “We couldn’t have done this without their backing. The government’s support has been essential in moving from concept to reality.”

 This partnership is a model for public-private collaboration, particularly in industries like aviation that require significant investment and expertise. 

Economic Potential and Future Growth The Skyleader 600’s production is expected to create ripple effects across Tanzania’s economy, from aviation services to job creation.

 It provides an affordable transportation solution, not only for Tanzania but also for neighboring African markets.

 AAL has ambitious plans to commercially sell the Skyleader 600, with Grolig hinting at future developments: “This is just the start. We plan to expand production, develop new models, and make Tanzania a leader in ultralight aircraft manufacturing in Africa.”

 A Vision for the Future The Skyleader 600 represents a turning point for Tanzania, not just in aviation but in its broader industrial ambitions.

 As the aircraft begins operations after its maiden landing at Julius Nyerere International Airport, it symbolizes Tanzania’s potential to innovate, manufacture, and compete on the global stage.

 In a world where aviation is dominated by Western and Asian manufacturers, Tanzania, through AIRPLANE Africa Limited, is making its mark with the Skyleader 600—an ultralight aircraft that carries the hopes of a nation into the skies. Keywords: Skyleader 600 launch Tanzania ultralight aircraft manufacturing in Africa AIRPLANE Africa Limited TIMEXPO 2024 aviation showcase Tanzanian aviation industry growth
Keywords:Skyleader 600 launch Tanzania:Ultralight aircraft manufacturing in Africa: AIRPLANE Africa Limited:TIMEXPO 2024 aviation showcase:Tanzanian aviation industry growth

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