SalamTel on Monday reported a solid underlying operational performance with growth in subscriber base and digital services for the financial year ended December 31, 2024.

The telecom operator dedicated to serving the Muslim community saw a 15% increase in its subscriber base, reaching 5.2 million active users across its markets. Revenue from digital services, including the SalamPesa wallet, grew by 28% year-on-year.

SalamTel CEO, Ahmed Hassan, commented: "Our 2024 results reflect the successful execution of our strategy to provide innovative, ethical, and value-driven telecom services to our community. The strong growth in our SalamPesa wallet usage demonstrates the trust our customers place in our digital financial services."

The company reported total revenue of $420 million, up 18% from the previous year. EBITDA increased by 22% to $165 million, while net profit rose by 25% to $72 million.

SalamTel's board has recommended a dividend of $0.15 per share, reflecting a 20% increase from last year's dividend.

Looking ahead, SalamTel plans to expand its 5G network coverage and introduce new features to its mobile app. The company also aims to strengthen its position in providing tailored services to the Muslim community, including prayer time notifications, Qibla finder, and Halal business directories.

Hassan added: "We remain committed to our vision of being the preferred telecom provider for the Muslim community while delivering sustainable returns to our shareholders. Our planned investments in network infrastructure and digital services will position us for continued growth in the coming years."