Safaricom Ethiopia engages with financiers ahead of its operation

Safaricom Telecommunications Ethiopia Plc (Safaricom Ethiopia) announces that it is engaging with different financers including development partners for its investment in Ethiopia. The company has stated that it is ordering equipment and looking for the technology that it will use.
The company stated that so far the fund that it has used is mobilized from shareholders, while further finance will be secured from development partners who are currently under talks with the company as per Peter Ndegwa, Chief Executive Officer of Safaricom Plc.
Anwar Soussa, Managing Director of Safaricom Ethiopia, said that the company is expected to commence operation in the first half of 2022 and is now starting engagements with Ethio Telecom, which is expected to provide the infrastructure for the new telecom operator.
“This is going to be the next big step for us because massive important entities are going to start coming together,” he said.
He said that Safaricom Ethiopia is looking forward to engaging with top leadership of Ethio Telecom in terms of making sure that both sides build the win-win relationship, “and that can meet government’s ambitions in terms of Digital Ethiopia.”
On the first press conference that the company officials gave, the Global Partnership for Ethiopia, which includes five companies for the formation of Safaricom Ethiopia, Ndegwa expressed that the firm is proud to be investing in Ethiopia.
“Such partnerships are the building blocks of digital transformation, and I would like to thank all our partners for their support as we work towards enabling our commercial launch and contribution to digital Ethiopia as a purpose-led technology company,” said Ndegwa.
The Managing Director stated that the company has commenced recruitment of Ethiopian nationals for technology, commercial and corporate functions in various capacities ranging from executive management to graduate level opportunities.
“Our ongoing recruitment process is intentionally guided by the promise of a digital future for the people of Ethiopia. By June next year, we aim to build a team of 1000 employees driven by innovation and digital solutions. We will also offer all employees comprehensive digital training packages through our number more skill training programme a gateway to new skills in the digital economy,” he said.
Additionally, the company is set to recruit 450 graduates over the next three years into a global development programme dubbed the ‘Discover Graduate Management Programme’. The graduates will undergo accelerated learning rotations across different functions in the business as well as extensive leadership coaching and mentorship programmes.
The company has announced that over USD 300 million will be invested every year for infrastructure and technology development for the coming ten year.
Safaricom was awarded a license to operate in Ethiopia for USD 850 million spectrum fees and it disclosed that it will have a total of USD 8.5 billion investment in the coming ten years.