Safaricom positive about Ethiopia operations despite war
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Business Daily
Business Daily
Kenyan telecommunication giant Safaricom said on Wednesday the Ethiopia crisis might have a long-term impact on its operations but maintained it was positive about its long-term outlook. Safaricom expected to break even in the fourth year of its Ethiopia operations, said Safaricom chief executive Peter Ndegwa on Wednesday at a virtual investor briefing. The Safaricom consortium, which also includes British development finance agency CDC Group and Japan’s Sumitomo Corporation, won the licence with a bid of $850 million (Sh91.75 billion) and aims to start operations in Ethiopia next year. It pla…