By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: Safaricom shuts down its sites in Ethiopia’s Amhara
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > Business > Safaricom shuts down its sites in Ethiopia’s Amhara
Business

Safaricom shuts down its sites in Ethiopia’s Amhara

hallanaija
Last updated: August 10, 2023 5:13 am
hallanaija
2 years ago
Share
Safaricom
Safaricom PLC Chief Executive Officer (CEO), Peter Ndegwa during the 2022- 2023 Financial Year Results announcement at Michael Joseph Centre. FILE PHOTO | POOL
SHARE

Safaricom Ethiopia has shut down its sites in the country’s second-largest region, Amhara after the Federal Government declared a state of emergency in the latest setback to hit the telco’s operations in the populous nation.

The Federal Government on August 4 declared a state of emergency following fighting between the military and the Fano militia.

“Ethiopia is indeed a tough market. The most important thing is the stability of the country and the ability to operate right across Ethiopia,” Michael Joseph, the Safaricom Ethiopia chairman told the Business Daily.

“Today as you know there is a state of emergency and we cannot go to the Amhara region and had to shut our sites down there. All these are challenges that we have to deal with,” he said.

The listed telecoms firm has not disclosed how many of its 1,272 sites have been affected by the shutdown, but Mr Joseph said the development has derailed the firm’s expansion momentum in the vast country. Safaricom targets having 3,000 network sites in Ethiopia by the close of 2024.

READ MORE  Kenya and Uganda Resolve Stalemate, Permits Oil Shipment via Mombasa Port

As of its latest filings, Safaricom Ethiopia had 875 own built network sites with another 397 collocated having covered 22 cities in the country.

Safaricom
Safaricom PLC Chief Executive Officer (CEO), Peter Ndegwa at a past event. FILE PHOTO | POOL

The subsidiary had 2.1 million 90-day active consumers with the target for 2024 being 10 million.

The telco, however, says the challenges notwithstanding the plan to launch its mobile money service in the country in the near term remains on course.

Safaricom was granted a licence for mobile money services by the Federal Government of Ethiopia in May with the investment licence costing US$150.0 million of which Safaricom paid US$84.0 million.

Safaricom Ethiopia reported a Sh21.7 billion loss in the period ended March 2023.

10mn Motorists Have Used Nairobi Expressway Since Its Launch
Uganda reports that it is looking for oil in two additional areas.
Posta raises Mpost fees by 400% for individuals and more than 2000% for corporations.
Kenya Power Official Arrested For Allegedly Demanding Bribe
Thirteen more producers of second-generation alcohol have received government approval.
Share This Article
Facebook Email Print
Previous Article CBK Why Kenya’s credit market is overheating
Next Article steel Billionaire Narendra Raval joins case to root for Finance Act
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • Arsenal make complete U-turn on explosive £50m Man Utd star after ‘due diligence’…
  • Transfer: Man Utd blocked me from leaving this summer – Maguire
  • Ronaldo Disappointed by International teammate’s Decision to Join Premier League club Over Real Madrid
  • BREAKING NEWS: “I dumped Tottenham for Arsenal, not because of anybody but because of this particular Arsenal player, it has always been my dream to play alongside with Him one day” – Eberechi Eze names the ONE Arsenal player that inspired him to join Arsenal after completing Arsenal move TODAY – Not Saka and Not Madueke
  • Man accused of plotting rapper Young Dolph’s murd£r found not guilty on all counts

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?