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Telco service provider Safaricom's net earnings for the year ending march 31, 2024, dropped by 18 percent to 42.6 billion shillings compared to 52.4 billion posted last year. The company chief executive officer Peter Ndegwa attributes the drop to the tough operating environment during the year under review, characterized by forex volatilities that saw the Kenyan Shilling lose against the US Dollar and major international currencies. The telco however registered strong performance of the Kenya Business with growth of Mpesa and mobile data revenue.
Safaricom's net earnings for the year ending March 31, 2024, is Ksh.42.6B dropped by 18%
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