Safaricom CEO Peter Ndegwa (PHOTO: FILE)NAIROBI, KENYA: Safaricom is advising shareholders and investors to be cautious when dealing with its shares on the Nairobi Securities Exchange (NSE). The announcement comes as Ethiopia Communications Authority (ECA) closes the bid for the second telco operator where Safaricom is among bidders through a consortium. Safaricom is a leading member of a consortium consisting of Vodacom Group (South Africa), Vodafone Group (UK) and Sumitomo Corporation (Japan) that intends to make a formal bid for Ethiopia Telco Licence. The Ethiopian telecommunications market, which had hitherto been closed by the State, is now being opened up for foreign PRIVATE firms. The opening up of the telecommunications market is part of efforts by Prime Minister Abiy Ahmed to liberalise the economy.

Source: Standard Digital April 26, 2021 09:21 UTC