An international consortium led by Safaricom, and comprising of Vodafone and Vodacom, UK’s CDC Group and Japan’s Sumitomo Corporation, won a Shs91.8 billion bid to operate in Ethiopia.
The tender has increased Safaricom’s share rally to a new high.
The Global Partnership for Ethiopia said the rigorous process started by the government in 2019 as part of its Economic Reform Agenda, with the support of the International Finance Corporation will increase jobs, reduce poverty and grow the local economy in an inclusive and sustainable manner.
”We are excited for the opportunity to work with the people of Ethiopia to set up telecom networks to deliver a digital lifestyle,” Safaricom CEO Peter Ndegwa said.
He added that in past years, Safaricom has seen the power of digital transformation and its impact on customers and by working with all stakeholders in Ethiopia, the firm will deliver a similar transformation while achieving a sustainable return for shareholders.