Safaricom expansion plans to Ethiopia: Safaricom has been planning to expand to the Ethiopian market for a while now. When the company announced its first-half profit last week, recording massive profits, Peter Ndegwa, the telco’s CEO said they plan to bid for a licence to operate in the country in partnership with South Africa’s Vodacom.
Safaricom and Vodacom also recently announced that they had now completed the full acquisition of the M-PESA brand from Vodafone through a newly-created joint venture.
The transaction, which was first announced in 2019, will accelerate M-PESA’s growth in Africa by giving both Vodacom and Safaricom full control of the M-PESA brand, product development and support services as well as the opportunity to expand M-PESA into new African markets.
#TechTrendsChats with Safaricom PLC CEO, Peter Ndegwa. Talking about these expansion plans to Ethiopia and the rest of Africa. Subscribe and listen to the chat below.
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