ADDIS ABABA – Top officials of Safaricom Telecommunications Ethiopia Plc have given update on their ongoing investment to the government on Wednesday.
Finanace Minister Ahmed Shide and State minister of Finance Eyob Tekalign held a meeting with Safaricom Plc and Safaricom Ethiopia Plc delegation, led by Peter Ndegwa, the Chief Executive Officer Safaricom Plc.
“The meeting focused on discussing progress updates and the next steps for Safaricom Ethiopia Plc investments in Ethiopia,” said the Ministry of Finance in a statement.
The Ministry has described the discussion between the two sides as “fruitful”.
Authorities granted a nationwide full-service unified telecom service license to the Safaricom Telecommunications Ethiopia PLC effective from 9 July 2021.
The licence is valid for fifteen years and renewable for additional terms of fifteen years subjected to fulfilment of all license obligations.
Speaking in Wednesday’s meeting, Safaricom Plc CEO Ndegwa reiterated the commitment of his company to commence its operation as per the licensing agreement for commercial launch in 2022.
The CEO also explained about the various preparations being undertaken to realize this target.
Ndegwa also affirmed the commitment of Safaricom Ethiopia PLC to work with local companies and ethio telecom to quickly roll out its services.
Ethiopia’s newest telecom operator is expected to create digital transformation to positively impact the economic and social lives of the east African nation which is home to over 112 million people.
Finance Minister Ahmed reaffirmed the commitment of the government to support the telecom company to deliver result in improvements in telecommunication service quality, coverage and innovation.
The Minister has also renewed Government’s pledge to support increased investment in the telecommunications sector in the country.
Safaricom-led Consortium, Global Partnership for Ethiopia (GPE), plans to invest up to $8.5 billion in infrastructure among other areas over the next decade. The investment is expected to create between 1 million and 1.5 million jobs.