Safaricom secures licence to operate in Ethiopia

Safaricom

from ADANE BIKILA in Addis Ababa, Ethiopia
ADDIS ABABA, (CAJ News) SAFARICOM Telecommunications Ethiopia has received a licence to resume operations in the East African country.

The Ethiopian Communications Authority (ECA) issued the licence valid for a term of 15 years from the effective date (July 9), and renewable for additional terms of 15 years subject to fulfillment of all license obligations.

Global Partnership for Ethiopia (GPE) is the designated licensee and parent company.

Pursuant to the licensing, GPE shall incorporate a local company within 45 calendar days.

GPE secured the licence at a fee of US$850 million. This fee made it the single largest foreign direct investment into Ethiopia

Shareholders are Safaricom Kenya (55,7 percent), Sumitomo Corporation, Japan (27,2 percent), CDC Group, UK (10,9 percent) and Vodacom South Africa (6,2 percent).

– CAJ News

 

 

 

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