Kenya's M-Pesa, Safaricom and Mobile-Money Rules — 2026-09-02
Safaricom has initiated the early payment of a KSh 46 billion dividend, signaling strong financial health following robust fiscal year results. Meanwhile, Safaricom Ethiopia reported rapid subscriber growth and network expansion, with CEO Wim Vanhelleputte highlighting progress toward breakeven targets. Local media also addressed customer concerns regarding missing transaction messages and clarified procedures for reviewing Fuliza credit limits.
Kenya's M-Pesa, Safaricom and Mobile-Money Rules — 2026-09-02
Top developments
Safaricom initiates early payment of KSh 46bn dividend
On September 1, 2026, Business Daily Africa reported that Safaricom PLC has begun the early distribution of its final dividend for the year ended March 31, 2026. The total payout amounts to KSh 46 billion. This move follows a shift in payment mechanisms from cheques to electronic transfers via bank accounts and Real-Time Gross Settlement (RTGS) systems. The early payment reflects strong cash flow generation, underpinned by the group’s net income growing 67.3% to KSh 99.7 billion in FY2026.
Safaricom Ethiopia praised for rapid network and subscriber growth
On August 26, 2026, TechAfrica News reported that Safaricom Ethiopia CEO Wim Vanhelleputte welcomed Global Partners Equity (GPE) Board members, highlighting rapid subscriber acquisition and network expansion. This development is critical for Safaricom’s long-term profitability, as the Ethiopian unit aims for EBITDA break-even by March 2027. Recent data indicates active customers in Ethiopia grew by 46% to 14.7 million in the June quarter, with losses halving due to cost optimizations and increased data usage.
Safaricom addresses missing M-PESA transaction messages
In late August 2026, The Kenya Times reported that Safaricom responded to customer complaints regarding missing M-PESA confirmation texts. The company provided guidance on how users can resolve this issue, which is vital for maintaining trust in the mobile-money ecosystem. Transaction alerts are a key component of the user experience and fraud prevention strategy for Kenya’s largest mobile-money platform.
Local view
Local stakeholders and media outlets have focused on customer service improvements and financial transparency. Tuko.co.ke highlighted Safaricom’s introduction of a "Cost Calculator" feature in the MyOne App, allowing users to instantly check M-Pesa fees for transactions and withdrawals. This tool aims to enhance transparency as business payment tariffs saw reductions of up to 50% earlier in August. Additionally, People Daily reported on Safaricom’s clarification of Fuliza credit limits, explaining that users can trigger a quick review by dialing *334# and selecting "Refresh My Limit," addressing widespread queries about borrowing ceilings despite high transaction volumes.
Context & numbers
- Dividend Payment: KSh 46 billion final dividend paid early in September 2026.
- FY2026 Financials: Group service revenue rose 11.1% to KSh 414.1 billion; net income grew 67.3% to KSh 99.7 billion.
- M-PESA Revenue Contribution: M-PESA contributed KSh 183 billion, representing 45.6% of Safaricom Kenya’s revenue in FY2026.
- Ethiopia Operations: Active customers reached 14.7 million (up 46% YoY); investment climbed to KSh 159.6 billion.
- Transaction Volumes: M-PESA transaction value hit KSh 41.68 trillion in FY2026; active monthly customers increased 14.5% to 40.99 million.
On the radar
- Ethiopia Breakeven: Investors are watching Safaricom Ethiopia closely for signs of achieving EBITDA break-even, currently targeted for March 2027. Continued subscriber growth and loss reduction are key metrics.
- Vodacom Integration: Vodacom mobile money processed $547.9 billion in transactions recently, with the Safaricom deal lifting financial services to 22% of group revenue. Further integration synergies are expected.
- Fintech Competition: New entrants like Ziidi are expanding retail investing via M-Pesa, marking a new era in the mobile-money revolution. This could impact future revenue streams beyond traditional transfers.
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