Ethiopia flagship telecoms project secures $1 billion


Safaricom CEO, Peter Ndegwa

from ADANE BIKILA in Addis Ababa, Ethiopia
Ethiopia Bureau
ADDIS ABABA, (CAJ News) – A MULTIMILLION dollar investment by some World Bank members is a major step in reforming the telecommunications sector, accelerating digital transformation and inclusion in Ethiopia.

Safaricom has welcomed the investment by the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) following the equity investment and guarantee into the mobile network operator.

Peter Ndegwa, Safaricom PLC Chief Executive Officer, said together with the rest of the Global Partnership for Ethiopia members – British International Investment, Sumitomo Corporation, Vodacom and Vodafone – he looked forward to working with the World Bank Group to jointly contribute to the telecommunications reform programme, digital transformation and inclusion objectives.

This would offer Ethiopians world class mobile connectivity and technology access that will spur economic development in the East African country.

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