• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Dr. Efua Asabea Asare CEO of Ghana Export Promotion Authority has disclosed Ghana’s Coconut has placed Ghana in Global Market
    Retired Vice President of Nigeria Yemi Osinbajo has fetched a New Mandate
    African Development Bank and Google Signs Agreement on Digital Transformation
    Contemporary Leadership in Nigeria’s Central Bank will enable to revive Confidence in Nigeria’s Banknotes Tony Elumelu disclosed
    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report
    Philip Mpango Vice President of Tanzania called for a Global Partnership to address the existing Demographic Emergency

    Safaricom, Shareholders Approve Plans to Create Digital Transformation in Ethiopia

    Posted On 08 Aug 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Richard Adorsu-

    Photo Credit: AppsAfrica

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana- Safaricom shareholders have given their nod for the setting up and incorporation of the Safaricom Telecommunications Ethiopia PLC, the company that will begin operation in Ethiopia by next year.

    Safaricom Telecommunications Ethiopia PLC was set up early this month after the consortium led by Safaricom was awarded license to operate telecommunication services in Ethiopia.

    The Global Partnership for Ethiopia consortium brings together Vodacom Group, Vodafone Group, Sumitomo Corporation and CDC Group. The companies from Kenya, South Africa, Japan and The United Kingdom have proven experience in telecommunications with large-scale network deployment capabilities, operations and service provision.

    Anwar Soussa, appointed the Managing Director to lead setting up of the operations, will report to the board of directors of the Safaricom Telecommunications Ethiopia PLC and Peter Ndegwa, Safaricom PLC Chief Executive Officer (CEO).

    Safaricom Telecommunications Ethiopia PLC is expected to create digital transformation that will positively impact the economic and social lives of Africa’s second-largest country, Ethiopia, home to over 112 million people.

    Speaking at Safaricom’s 13th Annual General Meeting, Michael Joseph, Chairman of the Board, expressed confidence in the company’s ability to build a top-quality mobile network that will enable Ethiopia to access a world-class array of digital services.

    “The board is committed to working with management to deliver value to our shareholders but, most importantly, to ensure we continue to be there for our customers, staff and the community, especially in this new phase,” said Mr. Joseph.

    Mr. Peter Ndegwa, Safaricom CEO said entry into Ethiopia has brought to life the company’s dream to expand beyond Kenya.

    Mr. Ndegwa said: “Ethiopia is a critical part of our strategy under Mergers, Partnerships & Acquisitions. We are proud to lead this partnership that will provide quality and affordable mobile and internet connectivity to enable more Ethiopians to access quality telecommunications services.”

    Mr. Ndegwa added: “Even as we start operations in Ethiopia, we pledge to continue investing in our country ensuring to always offer our customers superior network connectivity and efficiently enhance our network, products and services.”

    During the AGM, shareholders also approved the final dividend of KES0.92 per share with the dividend payout amounting to KES36.8 billion. The dividend will be payable on or before 31 August 2021 to the shareholders on the Register of Members as at close of business 30 July 2021. Safaricom had previously approved an interim dividend of KES0.45 per share amounting to KES18 Billion which was paid to shareholders on 31 March 2021.

    Despite the pandemic, Safaricom exhibited resilience during the year to sustain overall performance. This was coupled with operational efficiency and improved asset utilization that boosted recovery especially in the second half of the year. The company recorded flat growth in the financial year ending March 2021 and is set to roar back into growth in 2021.

    “We are proud of how resilient our business and financial performance has been during these challenging times. We remain optimistic of the future despite the tough economic times as we implement the new strategy of being a purpose-led technology company,” said Mr. Ndegwa, Safaricom CEO.

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    The Economic Community of West African States (ECOWAS) Bank for Investment and Development inaugurated the prime Editions of its West African Development Outlook, under the watch of the EBID President and Chairman of the Board of Directors

    Next Story

    $1.7 Billion Forex Backlog veering to be freed by the Reserve Bank of Zimbabwe

    12 Comments

    1. Hannah August 8, 2021 at 4:35 am Reply

      Thank you Richard for the reports and also to your teams. Oxford in UK. Hannah

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:52 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Gloria August 8, 2021 at 4:38 am Reply

      Communication business is growing beautifully. Great report. Abuja Nigeria. Gloria

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:52 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Kevin August 8, 2021 at 4:40 am Reply

      Great investment opportunities in Africa. Nairobi in Kenya. Kevin

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:51 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. James August 8, 2021 at 4:42 am Reply

      The weekend newsletters were great. Thank you. Berlin, Germany. James

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:51 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Felix August 8, 2021 at 4:45 am Reply

      Africa is ready for business. Come and invest. Bissau Guinea Bissau. Felix

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:51 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Nathaniel August 8, 2021 at 4:49 am Reply

      Thank you for making it to the million reader club. Great achievement. Nathaniel in Paris, France

      • New Africa Business News, Staff Correspondent August 8, 2021 at 4:51 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Dr. Efua Asabea Asare CEO of Ghana Export Promotion Authority has disclosed Ghana's Coconut has placed Ghana in Global Market

    Posted On 30 Sep 2023

    Retired Vice President of Nigeria Yemi Osinbajo has fetched a New Mandate

    Posted On 29 Sep 2023

    African Development Bank and Google Signs Agreement on Digital Transformation

    Posted On 28 Sep 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Dr. Efua Asabea Asare CEO of Ghana Export Promotion Authority has disclosed Ghana's Coconut has placed Ghana in Global Market

    Retired Vice President of Nigeria Yemi Osinbajo has fetched a New Mandate

    African Development Bank and Google Signs Agreement on Digital Transformation

    Recent Posts

    • Dr. Efua Asabea Asare CEO of Ghana Export Promotion Authority has disclosed Ghana’s Coconut has placed Ghana in Global Market
    • Retired Vice President of Nigeria Yemi Osinbajo has fetched a New Mandate
    • African Development Bank and Google Signs Agreement on Digital Transformation
    • Contemporary Leadership in Nigeria’s Central Bank will enable to revive Confidence in Nigeria’s Banknotes Tony Elumelu disclosed
    • Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.