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SAFARICOM MAKES BID FOR ETHIOPIA LICENCE

Safaricom PLC and parent company Vodacom Group Ltd plan a joint bid for one of the two telecommunications licences that is expected to cost $1.5 billion. 

Safaricom confirmed this and is gearing up to bid with other foreign firms.

In June 2019 Addis announced that the country will be liberalising its telecommunications sector. The 100 million Ethiopians have been served by the state-owned Ethio Telecom. 

Safaricom is one of the frontrunners and with its array of products and services hope to do business in Ethiopia one of the few countries yet to open up its telecommunications sector. 

With it mobile money transfer Mpesa, Safaricom plans to turn the service into 'Africa Largest Unbanked Bank'

Last year Safaricom core earnings rose 13.1% to Kenya shillings 89.6 billion ($889.33 million). 

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