Fortune News | Sep 03,2022
Nov 14 , 2023
Henok Teferra, chief external affairs of Safaricom Ethiopia has resigned citing personal reasons that require his immediate attention. His resignation comes in the wake of a half-year performance report of one of Safaricom Ethiopia's parent companies that signalled a declined profit earnings.
Henok served as Chief External Affairs & Regulatory Officer since May as the company navigates the turbulent landscape of Ethiopia's telecom sector, contending with the state-owned Ethio telecom which has had an infrastructural advantage for over a century.
Prior to joining Safaricom, Henok was the former Ambassador of Ethiopia to France, Spain, Portugal and Monaco where he participated in diplomatic missions.
Vodacom, which has a significant stake in Safaricom Ethiopia, posted a 4.2pc decline in its Headline Earnings Per Share during a half-year report to investors which was partly due to start-up costs of its operation in Ethiopia. CEO Shameel Joosub revealed expectations that earnings before interest, taxes, depreciation, and amortisation (EBITDA) losses of Ethiopia's business will peak in the financial year.
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