Safaricom Ethiopia's performance was included in the Group's annual report presented to shareholders in Nairobi, Kenya on May 11, 2023 . Safaricom Ethiopia spent about USD 146 million on operational costs, while Safaricom Kenya spent around USD 391.3 million . Together with a consortium of international investors, Safaricom Group anticipates that Safaricom Ethiopia's capital expenditures will reach between KSh40 and KSh45 billion in 2024. To date, shareholders of the Safaricom consortium have invested a whopping USD 1.2 billion in Safaricom Ethiopia. The performance of Safaricom Ethiopia has also been negatively impacted by the government's social media Internet blockades.

Source: Ethiopian News May 13, 2023 15:11 UTC