Transcribed
Safaricom Receives $257 Million for Ethiopian Expansion
Jun 14, 2023 ·
1m 13s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Safaricom Receives $257 Million for Ethiopian Expansion
This is an automatically generated transcript. Please note that complete accuracy is not guaranteed.
Description
Safaricom’s expansion into Ethiopia is getting a major boost. International Finance Corporation announced that it would invest Ksh21.8 billion in Safaricom, in exchange for 7.25% of the company’s equity. IFC...
show more
Safaricom’s expansion into Ethiopia is getting a major boost.
International Finance Corporation announced that it would invest Ksh21.8 billion in Safaricom, in exchange for 7.25% of the company’s equity. IFC will also loan Safaricom a further Ksh13.9 billion.
In May 2021, Safaricom won a bid to become the first external—and second overall—telecoms company in Ethiopia.
Before Safaricom, state-owned telecoms Ethio Telecom had a monopoly of Ethiopia’s telecoms market, with 54 million subscribers.
show less
International Finance Corporation announced that it would invest Ksh21.8 billion in Safaricom, in exchange for 7.25% of the company’s equity. IFC will also loan Safaricom a further Ksh13.9 billion.
In May 2021, Safaricom won a bid to become the first external—and second overall—telecoms company in Ethiopia.
Before Safaricom, state-owned telecoms Ethio Telecom had a monopoly of Ethiopia’s telecoms market, with 54 million subscribers.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
| Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
