Safaricom lost approximately Sh400 million due to disruption of business during the elections last month.
Safaricom chief executive officer Bob Collymore on Friday attributed the loss to the closure of a number of M-Pesa outlets in areas regarded as violence hotspots across the country during the period.
He said despite the loss of M-Pesa revenue, there were some gains from the extensive use of the internet when Kenyans stayed away from work.
“What happened is that in slums, there were a number of businesses that closed and this had a negative impact on M-Pesa performance,” Mr Collymore told a media briefing on the sidelines of the firm’s annual general meeting,
He, however, said uncertainty looms ahead of the upcoming repeat presidential election that is scheduled for October 17.
M-Pesa is the firm’s largest revenue growth driver.
It generated revenue of Sh55 billion in the year ending March, rising by a third from Sh41.5 billion the previous year.