Safaricom First-Half Profit Drops as Ethiopian Birr Plummets
- Profit drops 18% on impact of Ethiopia currency devaluation
- Free-floating birr is positive for Safaricom in long term: CEO
Earnings from mobile-money product M-Pesa now account for about 43% of service revenue.
Photographer: Eduardo Soteras Jalil/BloombergThis article is for subscribers only.
Safaricom Plc, Kenya’s biggest company by market value, said first-half profit fell 18% because of the devaluation of Ethiopia’s currency.
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