Safaricom Execs Confirm April Entry


Safaricom Execs Confirm April Entry

The executives of Safaricom Ethiopia Plc have confirmed the company will begin commercial operations in the coming April. They announced the operator is finalising preparations to enter the market during a tour of its new 100 million dollar modular data centre in the Akaki-Qality District last week. The government stipulated the operator has nine months to launch its commercial operations following the award of a full telecom operator's license last June. Failing to meet the deadline in April would entail a fine for the company. However, the operator, which will be using the "07" prefix for mobile calls, is not obligated to launch its services across the country but in defined economic zones. The Global Partnership for Ethiopia Consortium (GPEC), led by Kenya's Safaricom, acquired the 15-year operator's license for 850 million dollars last year. Safaricom is conducting negotiations for a potential infrastructure sharing deal with the state-owned Ethio telecom.

[ssba-buttons]

Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...