iGB Africa report - The rise of digital | Page 28

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In its 2020 annual report , Safaricom said that its 3G network now covers 94 % of the population , while its 4G network covers up to 77 %. But as chief executive Peter Ndegwa said in the company ’ s annual report for the year to March , most users still only have access to 2G devices , with “ affordability ” being the main reason they haven ’ t moved to 4G handsets . “ Changing this will take time ,” he added .
On mobile money , Safaricom says it is a key enabler for people
M-Pesa revenue 2016-20 ( KESbn )
90
80
70
60
50
40
30
20
10
0
84.4
75
62.9
55.1
41.5
2016 2017 2018 2019 2020
Source : Safaricom annual reports
October 2020