Vodacom Invests in Safaricom's New Mobile Telecoms Company in Ethiopia
September 13 2021 - 6:10AM
Dow Jones News
By Jaime Llinares Taboada
Vodacom Group Ltd. said Monday that it has agreed to fund
Safaricom Telecommunications Ethiopia PLC, a new mobile
telecommunications services provider in Ethiopia.
The company is backed by an international consortium including
Safaricom PLC, Vodacom, Vodafone Group PLC, Sumitomo Corp. and CDC
Group. Vodacom will have a 6.2% shareholding in the holding
company, which will be majority owned by Safaricom with a 55.7%
stake.
Vodacom said the license awarded to Safaricom Telecommunications
Ethiopia is an opportunity to build out world-class services in
Africa's second-largest country by population, providing a
compelling long-term growth vector.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 13, 2021 06:55 ET (10:55 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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