Safaricom PLC has reported a reduced Kes.33 billion half year profit representing a six percent slide in earnings from Kes.35.2 billion last year making this the company’s first profit slide in the mid-year review since 2012.
The decline in earnings has been attributed to a decline in M-Pesa revenues from the roll out of free cash transfers below Kes.1000 to Kes.35.9 billion from Kes.42 billion last year.
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