Profit for the year ended March 2022 stood at Ksh67.496bn. According to Safaricom’s annual report, investment into the radio access network (RAN – used for wireless telecommunications systems) in Ethiopia accounted for 58.1% (Ksh32.4bn) of total capex investments into Safaricom Telecommunication Ethiopia (STE) – almost triple the amount spent on similar infrastructure in Kenya. Network expansion and transmission had a combined expense of 28.2% (Ksh15.7bn). The rest went into financing operations and IT. But the total investment made in Ethiopia was within budget , given the telecoms

Source: Ethiopian News May 17, 2023 12:27 UTC