Safaricom Ethiopia attains over 1 million subscribers in just a month

for Tv47 Digital November 17, 2022, 06:50 AM
Safaricom Ethiopia
Anwar Soussa, MD, Safaricom Telecommunications Ethiopia PLC, with Safaricom Ethiopia Chairperson Michael Joseph, CEO Peter Ndegwa, and Vodacom group CEO Shameel Joosub during the launch. PHOTO/REUTERS

In Summary

  • Company CEO Peter Ndegwa said Safaricom is looking forward to positively impacting the people of Ethiopia with a sustainable and quality mobile network.
  • Safaricom Ethiopia is registering about 18,000 sign-ups everyday. 

Safaricom Telecommunications Ethiopia PLC has attained over one million subscribers just a month after starting its operations in the country. 

This landmark figure comes barely a week after Safaricom Plc announced that it had generated KSh98.3 million in revenue. The announcement was made during the release of half-year financial results.  At that time, the company had 740,000 subscribers - translating to about 18,000 sign-ups everyday. 

Safaricom is competing with state-owned Ethio Telecom for a share of the lucrative 110 million-strong mobile users.

The Kenyan company announced its entry into the Ethiopian market last year, through a consortium that includes South Africa’s Vodacom and Britain’s Vodafone. The consortium invested $850 million for the license.  

Other partners in the consortium are British development finance agency CDC Group and Japan’s Sumitomo Corporation.

 President William Ruto and Ethiopian Prime Minister Abiy Ahmed. PHOTO | FILE

“For two decades, Safaricom Plc has combined the power of technology and our innovative spirit to solve customer and societal challenges. ...With these lessons and experiences, we look forward to positively impacting the people of Ethiopia with a sustainable and quality mobile network that will be a vital launch pad for nationwide digital telecommunications services to over 118 million Ethiopians," Safaricom CEO Peter Ndegwa said during the launch in October. 

The launch in Addis Ababa was attended by President William Ruto and  Ethiopian Prime Minister Abiy Ahmed.  

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