Ethiopia| Safaricom Ethiopia is set to receive funds from the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), members of the World Bank Group, following the closure of the transaction during a funding ceremony held at the telco’s headquarters in Addis Ababa, Ethiopia. “The progress Safaricom Ethiopia has achieved in such a short period is nothing short of remarkable. Following the closure of this transaction, IFC will hold a minority equity stake in the Global Partnership for Ethiopia BV (GPE), while Safaricom PLC remains the majority shareholder. We look forward to their input in helping us make strides in the Ethiopian market.” Said Mr. Michael Joseph, Safaricom Ethiopia Chairman. This significant investment will expedite the company’s ambitious plans to provide affordable internet and reliable connectivity across Ethiopia.

Source: Ethiopian News August 07, 2023 14:18 UTC