Safaricom’s Next Chapter: Growth, Dividends & The Ethiopia Bet

Safaricom is one of Africa’s most influential companies. But what does it take to lead growth at this scale? In this episode, Eric Asuma sits down with Dilip Pal, Chief Financial Officer of Safaricom PLC, for a conversation on strategy, capital allocation, shareholder value, regional expansion, and the future of East Africa’s largest telecommunications company. From the return to pre-COVID dividend levels to the company’s expansion into Ethiopia, this discussion offers a rare look into how one of Africa’s biggest businesses thinks about growth, investment, and long-term value creation. In this conversation, we explore: • Safaricom’s latest financial performance • The return to stronger dividend payouts • The progress and potential of the Ethiopia business • Managing growth across multiple markets • Capital allocation and investment decisions • Balancing shareholder returns with long-term expansion • Debt, infrastructure, and business sustainability • The future of telecommunications and digital services in Africa We also discuss a broader question: What does it take for an African company to scale beyond its home market and build a truly regional business? Whether you’re an investor, entrepreneur, business leader, or simply interested in how large organizations make strategic decisions, this conversation offers valuable insights from inside one of Africa’s most important companies. Stay ahead of everything happening in the economy, powered by The Kenyan Wall Street: https://whatsapp.com/channel/0029Vb6b... 👉 Subscribe to The Kenyan Wall Street for new episodes every week!