Safaricom Ethiopia has reported a 270% increase in annual revenue, reaching Birr 7.2 billionfor the fiscal year ending March 31, 2025, up from Birr 2.7 billion the previous year. Despite the revenue growth, the company remains in its investment phase, recording an operating expense of Birr 47 billion.
Safaricom Ethiopia PLC, previously dubbed Global Partnership for Ethiopia, announced it will launch its commercial operations in March 2022, using the '07' mobile number prefix, the same prefix it uses in Kenya, with '09' reserved for Ethio Telecom.
Safaricom Ethiopia and Ethio Telecom are negotiating a network sharing deal, it has been revealed. Safaricom Ethiopia is preparing to start commercial operations in March, in a market so far monopolized by the state-owned Ethio Telecom.
Kenyan telecom operator Safaricom PLC has reported a 55% rise in half-year profit, supported by strong performance in its domestic market and reduced losses in Ethiopia.
In an effort to venture into the Ethiopian market, Safaricom has opened talks with undisclosed investors to form a consortium. The consortium, Safaricom hopes, will bid for one of two Ethiopian telecoms licenses expected to be made available in April this year.
