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Safaricom shares its accomplishments and future strategies for Ethiopia


Safaricom PLC on Friday held its second Investor Day in Addis Ababa, providing an opportunity for the investment community to gain insights into the company’s achievements and future plans as well as see the progress so far in Ethiopia roll out.

The investor day, themed ” Scaling Operations for Ethiopia’s Digital Future,” brought together 150 attendees comprised of analysts, regulators, Government representatives, Safaricom PLC Kenya and Ethiopia board members and senior management.

Speaking at the event, Adil Khawaja, Board Chairman of Safaricom PLC, reiterated the company’s long-term commitment to Ethiopia, stating “Ethiopia represents a key growth market for Safaricom PLC. As we continue our journey of growth and transformation, I am confident that we will remain at the forefront of driving digital innovation and delivering exceptional value to our customers, shareholders, and the communities we serve.”

Safaricom Group CEO Peter Ndegwa said, “We are proud of the success that Safaricom Ethiopia has achieved in a relatively short span of time. Our focus on scaling operations for Ethiopia’s digital future has been instrumental in driving our growth, and we remain committed to leveraging our expertise and resources to continue establishing ourselves as a key player in the Ethiopian telecommunications landscape.”

As of 31st December 2023, Safaricom Ethiopia had over 2,200 base stations covering 33 cities, including large and medium towns, representing over 30% population coverage. Additionally, M-PESA already has over 3 million customers and is growing rapidly.

Michael Joseph, Chairman of the Safaricom Telecommunications Ethiopia Ethiopia Board, shared his sentiments on opportunities for the company’s growth in Ethiopia, saying: “I am excited about the vast opportunities that lie ahead for our company’s growth in Ethiopia. Leveraging innovation and our commitment to delivering high-quality services, including reliable internet connectivity, we are poised to empower individuals, businesses, and communities across Ethiopia.”

Safaricom Telecommunications Ethiopia PLC CEO, Wim Vanhelleputte, noted that the company has witnessed remarkable progress since launching commercial operations in October 2022. “We will continue to establish an innovative brand loved by our customers and build a world-class network that delivers superior customer experience. We also look forward to the transformation M-PESA will bring to financial inclusion in Ethiopia,” he said.

The investor day is part of Safaricom group’s efforts to engage with its business partners and stakeholders on its operations, strategies, and impact. This year’s edition in Addis Ababa follows a successful one in Nairobi in February 2023.

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