(Sharecast News) - Vodafone said on Monday that a consortium led by its Safaricom subsidiary has been awarded a licence to operate telecom services in Ethiopia.
The consortium will establish a new operating company in Ethiopia which aims to start providing telecommunications services from 2022, Vodafone said.
In addition to Safaricom, the partnership includes: Vodacom Group; Vodafone Group; Sumitomo Corporation - one of the largest international trading and business investment companies; and CDC Group - the UK's development finance institution and impact investor.
Vodafone noted that Ethiopia is home to more than 112m people, making it the second largest country in Africa by population. It is also one of the last countries in the world to introduce competition in the telecom industry.
Safaricom chief executive Peter Ndegwa said: "We are excited for the opportunity to work with the people of Ethiopia to set up telecom networks to deliver a digital lifestyle.
"In past years, we have seen the power of digital transformation and its impact on our customers. We believe by working with all stakeholders in Ethiopia, we can deliver a similar transformation while achieving a sustainable return to our shareholders."
Vodafone (VOD)Today 09:57
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