Safaricom’s rally to a record has made Kenya’s biggest company overvalued, with analysts forecasting a 10% drop in the next 12 months.
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Ethiopia’s revived plan to sell a second telecoms licence to international operators received an early setback as MTN Group isn’t likely to resubmit a bid, according to people familiar with the matter.
Ethiopia will reopen bidding for its second telecommunications operator licence this month, two senior government officials said on Monday, including the right to operate mobile financial services.
Vodacom Group reported a strong 9% advance in revenue in the first quarter of its 2022 financial year, reaching R24.8-billion. If it hadn’t been for rand strength, the figure would have been 14.2%.
The Global Partnership for Ethiopia, the Safaricom-led consortium that won a licence to build a network in the East African nation, has appointed Anwar Soussa to lead the venture.
Ethiopia on Monday launched a tendering process for the proposed sell-off of a 40% stake in state-owned carrier Ethio Telecom to private investors.
Kenyan President Uhuru Kenyatta on Tuesday urged Ethiopia to open up its telecommunications sector to private mobile money business investors.
MTN Group will bid again for a Ethiopian telecommunications licence in the second round if mobile financial services are included, its CEO, Ralph Mupita, said on Friday after losing the first round.
The consortium’s plans to expand in Ethiopia have been complicated by the US state development agency’s decision to pause investments in the country.
Ethiopia has awarded a new telecommunications licence to a consortium including South Africa’s Vodacom Group, paving the way for a long-awaited opening of the sector.