Safaricom shareholders advanced the company’s plan to enter Ethiopia by ratifying the business established to manage what will be the nation’s first privately-run mobile operator.
At Safaricom’s AGM on 30 July, shareholders approved the creation of Safaricom Telecommunications Ethiopia from earlier last month. The operator explained in a statement the clearance brings the launch of commercial services in Ethiopia a step closer to fruition.
Safaricom Telecommunications Ethiopia is the company created by a consortium comprising the Kenya-based operator, Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group.
In Safaricom’s statement, chair Michael Joseph noted the company aimed to serve “our customers, staff and the community” in Ethiopia with a range of digital services.
Safaricom CEO Peter Ndegwa added Ethiopia was a crucial part of the company’s strategy to expand beyond Kenya, and pledged it would provide “quality and affordable mobile and internet connectivity”.Subscribe to our daily newsletter Back