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Safaricom Share Price Forecast 2026: The Opportunity on Kadiplay

Safaricom Share Price Prediction 2026: Why Analysts Are Bullish

Wazi, let's talk about Safaricom. The telecom giant just delivered one of its strongest years ever, and the signals for 2026 are pointing up. The stock is up 51% over the past year, and analysts aren't done with the story yet.

According to 7 analysts, the average rating for SCOM stock is "Strong Buy," with a 12-month stock price target of KES 38.46, an increase of 14.46% from the latest price. But before you jump in, let's break down what's actually happening with this company and why it matters.

Record-Breaking Financial Performance in FY 2026

Safaricom posted record FY26 attributable profit of KSh 95.61 Bn, with group EBITDA up 27.9% to KSh 220.26 Bn and EPS at 2.39. That's not just good, it's historic. Basic EPS of KSh 2.39 marked the highest earnings per share in the company's history.

The numbers tell a clear story. Revenue rose 10.0% to KSh423.9b, while net income jumped 37% from FY 2025. Profit margin expanded to 23%, up from 18% in FY 2025. When a company's margins expand while growing revenue, that's the kind of operational efficiency that makes analysts sit up and pay attention.

M-PESA and Data: The Growth Engines

What's driving this momentum? Two words: M-PESA and data. M-Pesa contributed KSh 182.7 Bn, growing 13.4% and accounting for 45.6% of Kenya service revenue, supported by a 71.0% expansion in the merchant base to 3.1 million.

Think about that merchant growth for a second. The Pochi La Biashara platform recorded strong expansion, with its merchant base increasing by 81.5% to 2.1 million users, with growth outpacing the formal Lipa na M-PESA segment which rose by 54.2% to 1.0 million merchants. This means more small traders, more transactions, more income for Safaricom.

Mobile data is growing fast too. Mobile data revenue grew 13.4% to 40.32Bn, with average usage per customer increasing to 4.85GB per month. As Kenyans consume more data, Safaricom captures that value.

Ethiopia: From Loss-maker to Breakeven Story

Here's something traders often miss: Safaricom's Ethiopia operation was a drag on profits for years. That's changing. Safaricom's operations in Ethiopia reached a significant growth milestone, with the customer base increasing to 13.6 million subscribers, as M-PESA active users grew by nearly 120 percent year-on-year.

What matters for your prediction? Net income 67% YoY, with a positive outlook for Ethiopia's breakeven in FY 2027. When a loss-making operation turns profitable, that's a massive tailwind for earnings.

Dividend Payouts: Cash in Your Pocket

Safaricom doesn't just grow; it pays you to wait. The last dividend per share was 0.85 KES, with dividend yield (TTM)% at 4.11%. Safaricom PLC dividend yield was 7.27% in 2025, and payout ratio reached 83.81%. This is a company confident enough in its cash flows to return money to shareholders.

What Analysts Actually Expect for 2026

Analysts' opinions on Safaricom PLC future price show a max estimate of 45.00 KES and a min estimate of 39.00 KES. That's a wide range, but it tells you the upside potential. From current levels, even the conservative estimate offers growth.

Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Wireless Telecom industry in Africa. So while Safaricom is growing slower than the industry average, it's growing from a much larger, more profitable base.

Here's the kicker: Over the last 3 years on average, earnings per share has increased by 15% per year but the company's share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. The market has already built in some optimism.

The 2026 Outlook: What You Need to Know

Cheki this: Safaricom just marked 25 years of operations with its strongest year ever. The company is executing on its Vision 2030 strategy. Kenya's telecom market is mature but profitable. Data and mobile money are secular growth trends that benefit Safaricom directly.

The risks? Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Wireless Telecom industry in Africa. Safaricom's growth is slowing, which is normal for a company of its size. Regulatory changes, competition, and macro headwinds could impact 2026 performance.

But the fundamentals are solid. Profits are up, margins are expanding, M-PESA is booming, and Ethiopia is finally heading toward profitability. That's the kind of setup that drives share prices higher.

How to Trade Safaricom Predictions on Kadiplay

This is where Kadiplay comes in, makofi. Instead of waiting for the share price to move, you can predict the direction of Safaricom's share price movement in 2026 and win KES instantly. Whether you think the stock will rise, fall, or stay in a range, you can make a prediction and trade on the outcome.

Safaricom share price predictions aren't just about guessing. They're about reading the fundamentals, understanding market sentiment, and placing your stake where you see the opportunity. With record earnings, strong guidance, and analyst "Strong Buy" ratings, the directional bias is pretty clear.

The beauty of prediction markets is that you don't need to hold the stock for years. You predict the outcome, the market resolves, and you win or learn. Fast feedback, real money.

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