Telecommunications firm Safaricom has completed its entry into the Ethiopian market and will now operate as Safaricom Ethiopia. This is after the Ethiopian government incorporated and registered the business unit.
The Safaricom Telecommunications Ethiopia PLC is the name designated to the new company set up in Ethiopia by the Global Partnership for Ethiopia, a consortium which won a bid to set up a telco enterprise in the country.
The new unit has been granted a nationwide full-service unified telecommunications service license effective from July 9 and lasting through a 15-year term.
The license shall be renewable for a term of 15 years subject to the fulfillment of license obligations issued by the Ethiopian Communications Authority (ECA).
The Designated Licensee and parent company, Global Partnership for Ethiopia has incorporated and registered its local company Safaricom Telecommunications Ethiopia PLC, and the local company has executed the final License Agreement in due time. Hence, the ECA has granted a nationwide full-service Unified Telecommunications Service License to the Safaricom Telecommunications Ethiopia PLC effective from 9 July 2021, valid for a term of fifteen (15) years from the Effective Date, and renewable for additional terms of fifteen (15) years subject to fulfillment of all license obligations,” a statement from the Ethiopian Communications Authority said.
Safaricom and partners who include parent firms Vodacom and Vodafone are expected to break ground on commercial operations in the country from January 2022.
The consortium operations is to be spearheaded by newly formed holding entities in which Safaricom holds a majority stake in.
At the same time, the consortium has since appointed Anwar Soussa as the Chief Executive to the Safaricom Telecommunications Ethiopia PLC.
Anwar has been serving as the Managing Director of Vodacom DRC and the Chairperson of Vodacash (M-PESA) a position he has held since 2017. In his new role, he will be responsible for the execution of the consortium’s goal to bring about transformational economic and social impact in Ethiopia and positively enhance the lives of its over 112 million people.