Safaricom, Kenya’s leading telecommunications provider, is associated with mobile connectivity. But the company’s success story goes beyond just voice calls.

In a recent move, Safaricom announced a revised fee structure for its popular #reverse call service, aiming to strike a balance between user convenience and long-term business sustainability.

Safaricom has implemented a new charge for its reverse call service. To curb the rising costs associated with free reverse calls, the telco has introduced a Ksh0.50 fee for the third reverse call made within a day. The first two calls remain free.

This move is expected to generate significant revenue for Safaricom, with an estimated daily income of at least Ksh1 million based on the two million subscribers utilising the service.

This change highlights Safaricom’s strategic approach to navigate a competitive market while exploring diverse revenue streams.

The Evolution of Revenue Streams

While voice calls remain a significant contributor, accounting for Ksh 79.5 billion in the last fiscal year, Safaricom has cleverly diversified its offerings. Here’s a look into some key sectors driving the company’s growth:

M-PESA Global:

This international money transfer service leverages partnerships with giants like Western Union and MoneyGram, tapping into the ever-growing cross-border remittance market.

Enterprise Solutions:

Safaricom caters to businesses with comprehensive ICT solutions, encompassing cloud services and managed network solutions.

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Digital Financial Services:

M-Shwari, the savings and loan platform, has witnessed a 10.4% revenue surge, reaching Ksh 1 billion. To join M-Shwari, access your M-PESA menu, select Loans and Savings, then choose M-Shwari.

Activate your account and agree to the terms and conditions. Fuliza, the M-PESA-linked overdraft facility, has also seen impressive growth at 32%, generating Ksh 2.8 billion.

Check your Fuliza details and usage by dialling *234#. You’ll receive an SMS every time you use Fuliza, informing you of your outstanding balance.

Data Services:

Recognising the smartphone increase in adoption, Safaricom has invested heavily in network infrastructure, including a 5G rollout, to provide high-speed internet access to its customers. You can access data bundles through three convenient methods: USSD code *544#, the mySafaricom app, or the Safaricom website.

Beyond the Basics:

Services like SKIZA which is a personalised ringback tone, and Okoa Jahazi, which is airtime advance, cater to user preferences and address temporary needs.

To access Okoa Jahazi, eligible Safaricom customers can dial either 131# or 456*2#. Follow the prompts to select Auto-Okoa and then Subscribe.

Choose the desired loan amount, and upon successful application, you’ll receive a confirmation SMS. Customers can choose from a large library of songs and sounds to personalise their caller tunes by dialling *811#.

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The Future of Connectivity

The revised fee structure for reverse calls demonstrates Safaricom’s commitment to responsible business practices. With a diverse portfolio of services and a keen eye on innovation, the company is well-positioned to maintain its leadership role in Kenya’s ever-evolving telecommunications landscape.

Safaricom’s story is a testament to the importance of adaptation and diversification in a dynamic marketplace. By venturing beyond traditional voice calls, the company has secured a dominant position in the Kenyan market and established itself as a true innovator in the telecommunications industry.