Companies StanChart reveals Sh46bn loan for Safaricom Ethiopia licenceSafaricom CEO Peter Ndegwa. The pricing of the loan has not been disclosed but dollar facilities typically attract interest rates in the mid-single digits. Standard Chartered Bank Kenya #ticker:SCBK was one of the major banks that lent Safaricom #ticker:SCOM a total of $400 million (Sh46.3 billion) last year, helping the telecom operator pay for its Ethiopian licence. This was the largest loan syndication to the tune of $400 million,” StanChart says in its latest annual report. The consortium had sought a $500 million (Sh57.8 billion) loan from the US International Development Finance Corporation (DFC).

Source: Ethiopian News April 28, 2022 17:05 UTC