Image sourced from Techweez
Safaricom, alongside parent company Vodafone, has been awarded one operating licence by Ethiopia’s telecommunications regulator. The telco is expected to pay $850 million for the licence.
According to
Reuters, the consortium – led by Safaricom – plans to invest up to $8.5 billion in infrastructure as well as create up to one and a half million jobs.
Ahmed adds, “with over $8 billion total investment, this will be the single largest FDI into Ethiopia to date. Our desire to take Ethiopia fully digital is on track. I would like to thank all that have taken part in this and for pulling off a very transparent and effective process.”
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Ethiopia’s telecommunications regulator awarded one operating license to a consortium led by Kenya’s Safaricom Vodafone, Japan’s Sumitomo Brook Taye, and UK finance agency CDC Group. The Council of Ministers has unanimously made a historic decision today allowing Ethiopian Communications Authority to grant a new nationwide telecom license to the Global Partnership for Ethiopia which offered the highest licensing fee and a very solid investment case, Prime Minister Abiy Ahmed said through his Twitter handle on Saturday.
East Africa’s mobile telecommunication giant Safaricom owns 56 percent, Japan’s Sumitomo 25 percent, CDC 10 percent, Vodacom 6 percent, and the rest is owned by the UK sovereign investment fund in the global partnership for Ethiopia consortium.
Vodafone, Safaricom beat MTN to Ethiopia licence - Mobile World Live 24 MAY 2021
Ethiopia awarded a consortium including Vodafone Group, Vodacom and Safaricom a licence to become the country’s first private mobile operator, though a bid led by MTN Group to become a second new entrant was rejected.
In a statement concluding the lengthy process of opening up the country’s telecoms market, the Ethiopian Communications Authority (ECA) and The Ministry of Finance confirmed Global Partnership for Ethiopia consortium had been successful in its bid.
Global Partnership for Ethiopia comprises Vodafone and its affiliates alongside finance partners CDC Group, Sumitomo Corporation and the US Development Finance Corporation.
Safaricom-led consortium passes go in Ethiopia for $850M lightreading.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lightreading.com Daily Mail and Mail on Sunday newspapers.
Safaricom consortium wins Ethiopian operating licence totaltele.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from totaltele.com Daily Mail and Mail on Sunday newspapers.