Safaricom

Safaricom Ethiopia Unveils $1.5 Billion Investment Plan Over Three Years

Safaricom Ethiopia Unveils $1.5 Billion Investment Plan Over Three Years

Safaricom Ethiopia is poised to make a substantial investment of $1.5 billion over the next three years, demonstrating its unwavering commitment to delivering top-notch telecommunications services throughout the nation. The company is aggressively pursuing the expansion of its network infrastructure across various regions, with plans to erect 5000 new towers within the specified timeframe, bringing the total count to 7000. Presently, Safaricom Ethiopia operates 2500 towers nationwide, with 1500 being self-built and the remainder leased from ethio telecom. The company aims to bolster its network by constructing an additional 10,000 to 12,000 towers over the next decade. Wim Vanhelleputte, CEO…
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M-PESA Safaricom Launches an automobile rewards for customers

M-PESA Safaricom Launches an automobile rewards for customers

M-PESA Safaricom Launches "Terek Be M-PESA" to Reward Over One Million Customers M-PESA Safaricom has announced the launch of a 90-day National Lucky Draw Promotion, named "Terek Be M-PESA," designed to reward over one million M-PESA customers, agents, and merchants. This promotional campaign is set to run from December 11, 2023, to March 11, 2024. The primary objective of Terek Be M-PESA is to raise awareness about M-PESA and boost its usage. Participants, both customers and businesses, stand a chance to win various prizes by receiving unique codes upon registering and conducting transactions on the M-PESA platform. The enticing prizes…
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French Company withdrew from buying Ethio Telecom Shares

French Company withdrew from buying Ethio Telecom Shares

Orange, a prominent French telecom company, initially had aspirations to acquire approximately 45 percent of Ethio telecom's shares. However, the company ultimately withdrew from the deal, citing challenges in swiftly implementing their strategic ideas and achieving desired results. The backdrop of this decision is Ethiopia's ongoing evaluation of its telecommunications market, with the intention of introducing a third telecom service provider alongside the existing state-owned Ethiotelecom and Safaricom, which recently entered the market. In addition to exploring new market dynamics, Ethiopia is also in the process of divesting less than half of Ethiotelecom, attracting interest from international giants such as…
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Safaricom Ethiopia goes live wih M-PESA

Safaricom Ethiopia goes live wih M-PESA

M-PESA, Safaricom Ethiopia’s Mobile Financial Services, goes live today three months after receiving the Payment Instrument Issuer License from the National Bank of Ethiopia. In preparation for launch, M-PESA has undergone a rigorous three-month pilot and testing, completed the technical readiness, secured key partnerships with Banks, recruited, trained, and onboarded M-PESA agents. All Safaricom Ethiopia customers are eligible for the services offered by M-PESA and can dial *733# on their Safaricom line both for android and IOS. The app is currently ready in 5 languages for android devices and available on play store; and will be available for IOS devices…
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Safaricom receives $257 million to boost digital financing in Ethiopia

Safaricom receives $257 million to boost digital financing in 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. The company will receive support in the form of full equity investment, a loan and guarantees to support the on-going construction and operation of their greenfield telecommunications network to drive digital connectivity across Ethiopia. The deal between the two parties was officially closed two months after the IFC's agreement to invest $157.4 million in equity in Global Partnership for Ethiopia BV (GPE) and a $100 million A-loan into its subsidiary, Safaricom Ethiopia Plc. “The progress…
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Wim Vanhelleputte appointed as Safaricom Ethiopia Head

Wim Vanhelleputte appointed as Safaricom Ethiopia Head

Former MTN Uganda CEO Named as new safaricom Ethiopia head Safaricom has appointed Wim Vanhelleputte as CEO of its Ethiopia business from September, an internal memo on Tuesday shows, Reuters reported. Vanhelleputte, who joins from SA’s MTN Group where he served in various roles over the years, including as CEO of MTN Uganda, will replace Anwar Soussa, who will leave his post at the end of July. The Belgian national will be in charge of delivering the company’s ambitious growth targets in the vast market where it started operations in 2022. Apart from signing on new subscribers, Safaricom is also…
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Safaricom Ethiopia CEO Anwar Soussa leaves office

Safaricom Ethiopia CEO Anwar Soussa leaves office

Anwar Soussa came to Addis Ababa after Safaricom Ethiopia won an international tender to provide telecom services in Ethiopia. Anwar Soussa, who has been leading Safaricom Ethiopia since 2019, has resigned from his position, his company announced. However, Safaricom has not yet disclosed why Anwar Soussa leaves from his company. Safaricom, which started providing telecom services in Ethiopia a year ago, has announced that it has gained more than three million customers in a short period of time. Safaricom, which is serving customers by renting network services from Ethio Telecom, is not what the Ethiopian market expected. Safaricom appointed Ethiopia…
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National Bank grants mobile money license to Safaricom Ethiopia

National Bank grants mobile money license to Safaricom Ethiopia

Safaricom Ethiopia has received a license from National Bank of Ethiopia to provide mobile money payment services. Safaricom Ethiopia, a telecom company that entered Ethiopia two years ago, has now received an additional license. Safaricom Ethiopia has received approval from the National Bank to provide mobile money services through Mpesa. National Bank Governor Mr Mamo Mehretu has announced that the bank has granted a mobile money service license to Safaricom, which enables it to provide digital financial services. This makes Safaricom the first foreign company to receive a license for mobile money payment services in Ethiopia, according to the  National…
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Safaricom Ethiopia appoints Ambassador Henok Tefera

Safaricom Ethiopia appoints Ambassador Henok Tefera

Safaricom Telecom Company, which entered Ethiopia two years ago, has appointed a new manager. Ambassador Henok Tefera, who has been Ethiopia's ambassador to France for the past three years, has been given new responsibilities at Safaricom Ethiopia. Ambassador Heok has been appointed as the head of foreign affairs and regulator of Safaricom Ethiopia. Safaricom Ethiopia confirmed to Ethio Negari that Ambassador Henok has succeeded the former head of the organization, Matthew Harrison. Ambassador Henok Tefera served as Ethiopia's ambassador to France from 2018 to 2022. Safaricom Ethiopia is providing telecom services to more than 20 cities and will soon receive…
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Huawei calls for a ‘non-stop’ digital banking in Africa

Huawei calls for a ‘non-stop’ digital banking in Africa

Huawei announced its ‘Non-Stop Banking’ initiative and unveiled it at the Huawei Intelligent Finance Summit for Africa 2023. The initiative calls for hand-in-hand collaboration between the ICT and banking industries and facilitate a digital future of ‘non-stop’ services, ‘non-stop’ development, and ‘non-stop’ innovation. Leo Chen, president of Huawei Sub-Saharan Africa Region spoke about why going digital has become such a major imperative for the banking industry. Not only does it make it easier for banks to broaden their customer base, he said. In Africa, he added, there’s an even greater imperative for banks to embrace digitization, as it allows for…
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