According to The Nation, Kenyan telco Safaricom plans to invest USD593 million in start-up expenditures for its Ethiopian affiliate, Safaricom Telecommunications Ethiopia.
Safaricom’s CEO, Peter Ndegwa, expects CAPEX of between USD1.5 billion and USD2 billion over the next five years to achieve its license’s coverage responsibilities.
Safaricom Telecommunications Ethiopia PLC plans to begin operations in mid-2022 and expects to break even by the fourth year of operations, CEO added.
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