Safaricom shareholders greenlight Ethiopia expansion

Safaricom’s shareholders formally approved the operator’s incorporation in neighbouring Ethiopia, following it led a successful bid for a telecoms licence in Africa’s second largest country.
The licence, the first of its kind in Ethiopia, whose telecoms market has been monopolised by the state-owned Ethio Telecom, was awarded after the consortium led by Safaricom outbid a rival consortium led by MTN by $250 million. Safaricom Telecommunications Ethiopia Plc, the operator’