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'SAMENA Daily' - News

Vodacom invests in Safaricom's new mobile telecoms company in Ethiopia

Vodacom Group Ltd. said that it has agreed to fund Safaricom Telecommunications Ethiopia PLC, a new mobile telecommunications services provider in Ethiopia.

The company is backed by an international consortium including Safaricom PLC, Vodacom, Vodafone Group PLC, Sumitomo Corp. and CDC Group. Vodacom will have a 6.2% shareholding in the holding company, which will be majority owned by Safaricom with a 55.7% stake.

Vodacom said the license awarded to Safaricom Telecommunications Ethiopia is an opportunity to build out world-class services in Africa's second-largest country by population, providing a compelling long-term growth vector.



Source: https://www.marketwatch.com/story/vodacom-invests-in-safaricom-s-new-mobile-telecoms-company-in-ethiopia-271631529618

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