Safaricom Denies Rumoured Plan to Venture into Ethiopia

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Nairobi-based telecommunication giant, Safaricom has denied media reports suggesting that it plans to enter the Ethiopian market soon.

The Kenyan telco had been reportedly preparing for its first ever international venture, with media reports suggesting that it was in negotiations with the Ethiopian government for a stake in state-owned monopoly Ethio Telecom.

But Safaricom has officially debunked such rumours, stating emphatically that it is currently not negotiating with any foreign government or organisations for an international investment or entry.

“We wish to categorically state that we are not engaged in any conversations with Ethio Telecom on this matter. Any information to the contrary is completely inaccurate,” CEO Bob Collymore told The EastAfrican.

Ethiopian media reported last week that the government had opened discussions with Safaricom on the sale of half of the shares of Ethio Telecom.

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