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Safaricom bid for Ethiopian Communications License –

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Kenya’s largest telecommunications company Safaricom has announced plans to bid for a telecommunications license in Ethiopia.

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This follows a request for a proposal (RFP) issued on March 5 by the Ethiopian Communications Authority (ECA) for two licenses for full-service telecommunications services in Ethiopia.

Safaricom PLC is a leading member of the consortium, which includes Vodacom Group Ltd (South Africa), Vodafone Group PLC (UK), CDC Group PLC (UK) and Sumitomo Corporation (Japan), which intends to formulate an official tender. Telco’s Ethiopian license, and will be submitting its proposal to the ECA according to RFP, “Safaricom company secretary Kathryne Maundu

“For structural purposes, corporate members can invest through special investment vehicles.”

Read: Ethiopian License Program Without M-Money Can Hurt Profits – Safaricom

The ECA had indicated that proposals from interested bidders must be submitted by April 26, 2021, and successful bidders will be announced within 30 days, subject to the ECA’s recommended deadlines.

Safaricom has however warned its shareholders to be cautious when trading stocks on the Nairobi Stock Exchange on the issue.

“Until further announcements on the tender process are issued, Safaricom PLC shareholders and other investors are advised to be cautious when handling Safaricom PLC shares, in Nairobi Security,” added Ms Maundu.

Development counters reported in February that indicated that Safaricom had been licensed, and that Ksh55 billion had been set aside for entry into the Ethiopian market.

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