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.
Safaricom has launched a new stock trading service on its M-Pesa mobile money platform, a development that could signal future opportunities for Ethiopia’s emerging digital finance and capital markets.
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.
The National Bank of Ethiopia (NBE) issued a mobile money service license to Safaricom M-Pesa Mobile Financial Service PLC, a subsidiary of Safaricom Telecommunication Ethiopia PLC, making the company the first foreign investor to be granted the license in Ethiopia.
