Safaricom to Operate in Ethiopia as ‘Safaricom Ethiopia PLC’

Safaricom shares have again hit an all time high at the bourse trading at Ksh 45 during Tuesday's session.

Safaricom Branch along Kenyatta Avenue PHOTO: KHUSOKO

Ethiopian Communications Authority (ECA) has issued a new Telecommunications Operator License to the Global Partnership for Ethiopia.

GPE is a partnership between Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group, led by Kenya’s Safaricom.

According to ECA, the Telecommunications Operator License has been given to “The Global Partnership for Ethiopia” which has registered its local company with the name: Safaricom Telecommunications Ethiopia PLC.

“Hence, the ECA has granted a nationwide full-service Unified Telecommunications Service License to the Safaricom Telecommunications Ethiopia PLC effective from 9 July 2021, valid for a term of fifteen (15) years from the Effective Date, and renewable for additional terms of fifteen (15) years subject to fulfilment of all license obligations,” it said Wednesday.

The Safaricom consortium intends to invest KSh800 billion over the next 10 years to roll out telecommunication services.

Anwar Soussa Appointed Managing Director of Safaricom’s Ethiopia Unit