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(Alliance News) - Vodafone Group PLC on Monday said a consortium, led by subsidiary Safaricom PLC, has been awarded a licence to operate telecommunications services in Ethiopia.
The consortium, dubbed Global Partnership for Ethiopia, will establish a new operating company in the east African country and aims to start providing telecom services from 2022.
"The Global Partnership for Ethiopia was created to bring about transformational economic and social impact in the country. The provision of accessible, affordable and high quality mobile and internet connectivity by the partnership will enable greater social inclusion as millions more Ethiopians access quality telecom services. Increased connectivity in Ethiopia will also boost the economy, impacting over 1 million jobs with digital training and skills, and bringing about productivity improvements for countless micro-entrepreneurs and small and medium sized enterprises," Vodafone said.
The consortium also includes South Africa-based Vodacom Group Ltd, which is majority-owned by Vodafone; Sumitomo Corp, a Tokyo-based trading and business investment company; and London-based CDC Group PLC, which is a Africa and South Asia-focused investor.
Ethiopia is "one of the last countries in the world to introduce competition in the telecom industry", Vodafone said, adding that reforms were set into motion in 2019 as part of an economic reform agenda.
Vodafone Chief Executive Nick Read said: "This is a significant development for Ethiopia, which is one of the last very large markets in the world to introduce telecom competition. We want to play a transformational role in ensuring Ethiopia's huge economic and developmental potential is realised through the deployment of next generation connectivity and digital services, creating an inclusive and sustainable digital society."
Vodafone shares were up 1.2% at 128.94 pence each in London on Monday, while Vodacom shares were trading 0.9% higher at ZAR126.94 each in Johannesburg.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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