Safaricom Ethiopia Secures $157m Investments

Jun 17 , 2023

An equity investment of 157.4 million dollars has been provided to Safaricom Ethiopia by the International Finance Corporation (IFC), the largest development institution focused on private sectors within developing economies, as part of the World Bank's investment arm. The IFC will have a minority stake in Safaricom Ethiopia which is working towards releasing its M-PESA mobile money service within the year. The IFC provided consultation to the Ministry of Finance and Ethiopian Communications Authority in 2020 as the country south to liberalize its telecom operations. The Multilateral Investment Guarantee Agency (MIGA) which is also part of the WB group issued one billion dollars in guarantees to Safricom's shareholders. The Agency provides political risk insurance for projects in a broad range of sectors in developing member countries, covering all regions of the world. Safaricom passed the three million customer threshold in the year along with a license to operate its M-PESA service last year.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...