Safaricom Ethiopia highlights investment and growth at 3rd Invest in Ethiopia Forum
Date: 2025-05-12
Safaricom Telecommunications Ethiopia PLC has participated in the 3rd Invest in Ethiopia event, a key platform aimed at driving economic growth and attracting global investment to the country. The high-profile gathering brought together government leaders, diplomats, and international investors to discuss Ethiopia’s economic reforms and private sector opportunities.
The event was attended by senior officials, including the President of Ethiopia and high-ranking ministers, alongside ambassadors and global investors. Organized by the Ethiopian Investment Commission in collaboration with the Ministry of Finance and the Development Partners Group, the forum reinforced Ethiopia’s commitment to economic liberalization, private sector engagement, and sustainable development.
During the
keynote address, Safaricom Ethiopia’s CEO outlined the company’s significant
contributions since entering the Ethiopian market. He emphasized that
Safaricom’s investment, exceeding $2.5 billion, represents not just financial
commitment but also confidence in Ethiopia’s economic reforms. The CEO
highlighted that market liberalization benefits all stakeholders by expanding
economic opportunities rather than creating competition at the expense of local
businesses.
Since its
launch, Safaricom Ethiopia has achieved notable milestones, including the
deployment of over 3,000 telecom towers, coverage of more than half the
population with 4G connectivity, and a customer base nearing 10 million.
Additionally, its mobile money service, M-PESA, has grown to 2.4 million users,
facilitating transactions worth 16 billion Ethiopian Birr.
By: Robert Annor
