Safaricom Approves Record Dividend

At its 18th Annual General Meeting on 31 July 2026, Safaricom shareholders approved a final dividend of KSh1.15 per share for the financial year ended 31 March 2026, bringing the total dividend for the year to KSh2.00 per share. This amounts to a record payout of KSh80.13 billion (approximately $620 million), the largest in the company's history. The dividend increase follows three years of flat payouts during which Safaricom invested heavily in its Ethiopian operations and navigated the depreciation of the Ethiopia — Ethiopian birr after foreign exchange reforms in 2024. Safaricom's share price rose 50.3% during the financial year, lifting its market capitalisation to KSh1.10 trillion by 31 March 2026, and further to about KSh1.44 trillion ahead of the AGM. The company also confirmed that its Ethiopian subsidiary is on track to break even in the current financial year. The AGM formalised changes to the shareholding structure following Vodacom Group's acquisition of an additional 15% stake from the Kenya, bringing Vodacom's ownership to 55%, with the government retaining 20% and public investors holding 25%. Shareholders also re-elected Edward Okaro to the board and reappointed Ernst & Young as external auditors. Safaricom is now executing its Vision 2030 strategy to transform from a telecom operator into a broader technology company, focusing on AI, broadband expansion, and growth of M-Pesa.