Safaricom CEO confirms full business operations will resume in Ethiopia by 2022

Peter Ndegwa, Safaricom PLC Chief Executive Officer, while discussing the progress and the next steps concerning Safaricom Ethiopia PLC investments in Ethiopia, noted that his company is committed to operating as per the license for commercial launch in 2022.

According to the Ethiopian Herald, Peter reaffirmed the commitment of Safaricom Ethiopia PLC to work with local companies and ethio telecom to foster public service.

Finance Minister, Ahmed Shide, acknowledged that the Ethiopian Government is ready to support Safaricom Ethiopia PLC to bring about a difference concerning telecom service quality, coverage and innovation. In his statement, he also confirmed that the Government renews its pledge to help scale up investment in the telecommunications sector in the country. The services will include voice, text, and data, and mobile payments.

The Ethiopian Communications Authority (ECA), on May 22nd, announced the Safaricom led consortium as the winner of the Ethiopia telecommunications licence award after submitting a financial bid of $850 million (Sh91.8 billion) defeating MTN of Mauritius, who bid $600 million [Sh64.7 billion]. It added that the Safaricom led consortium would invest over $8 billion in its telecom sector over the next ten years as the new telecommunications license is expected to create up to one and a half million jobs.

Source: Business Insider

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