Vodacom Group affiliate Safaricom has appointed MTN’s Wim Vanhelleputte as CEO of its Ethiopia business.
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The World Bank Group’s private investment arm and guarantee agency have pledged more support for Safaricom Ethiopia.
Ethiopia has reactivated the process of selling a 40% stake in Ethio Telecom and a separate plan to issue a second full telecoms licence.
Vodacom Group spent a record R5.8-billion on its network in South Africa in the past six months to fight load shedding and improve its network quality and performance.
Vodacom Group plans to roll out financial services products in its new market of Egypt, using the super app it is developing alongside China’s Alibaba Group.
Vodacom Group’s half-year headline earnings fell 9.5% due to start-up losses in Ethiopia and higher finance costs.
Safaricom, Kenya’s biggest telecommunications operator, has reported a 10% drop in its first-half net income.
Shares of Safaricom surged more than 9% on Friday after it secured a mobile financial services licence in Ethiopia.
A Safaricom-led investor group, which includes Vodacom, has launched mobile services in Ethiopia after securing an operating licence from the government.
M-Pesa and Visa have launched a virtual payment card in a bid to capture some of Africa’s $40-billion/year subscriptions market.