Safaricom Looks at Ethiopia’s Mobile Telecom Business
Safaricom (founder of MPESA) and the major telco in Kenya is putting together a group of investors in order to bid for one of the two Ethiopian mobile telcos next month. Ethiopia also plans to sell a minority stake in its state-run Ethio Telecom to a strategic investor. Experts say acquiring that stake would be a better option for Safaricom than setting up its own subsidiary, which would involve buying land, constructing buildings, recruiting staff and growing its market share against the dominant state monopoly. Ethio Telecom has a subscriber base of 44 million people, making Ethiopia the largest single-country customer base in Africa.
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