Is Safaricom Entering the Ethiopian Market?

Friday, October 6, 2017

Safaricom has denied reports of the company entering into the Ethiopian market.

The Kenyan telco had been said to be gearing up for its first venture abroad, with reports that it was in negotiations with the Ethiopian government for a stake in state-owned monopoly Ethio Telecom.

“We wish to categorically state that we are not engaged in any conversations with Ethio Telecom on this matter. Any information to the contrary is completely inaccurate,” CEO Bob Collymore told The EastAfrican.

Ethiopian media reported last week that the government had opened discussions with Safaricom on the sale of half of the shares of Ethio Telecom.

Photo courtesy of AMISOM Public Information.

Source: (link opens in a new window)

fintech, telecommunications