Safaricom hits over 1 million users in Ethiopia 

Safaricom hits over 1 million users in Ethiopia 

Telecommunications provider, Safaricom Ethiopia, a subsidiary of Safaricom has achieved a milestone of over 1 million users since its launch in the East African country in August of this year after obtaining an operating licence in July 2021 – disrupting the monopoly of Ethio Telecom.

The telecom has spread its service in Dire Dawa, Harar and Haramaya, Bahir Dar and Adama, among others in its plan to reach 25 cities by April 2023. Following its nationwide launch in October, it has phased a ten-city pilot launch and secured a mobile money licence to deliver M-Pesa to Ethiopians.

The telecom’s competitor, Ethio Telecom is a state-owned firm which has acquired more than 60 million subscribers of the about 120 million population in Ethiopia has on Tuesday, November 16 invited private investors to own a 40% stake while the government still retains the lion’s share of about 60% – a move it has embarked on since June 2021 to enable privatisation and spur competition.

As of the end of October, Safaricom Ethiopia announced it has gained 740,000 customers. Given this development, it has gained an additional 240,000 subscribers in two weeks, setting competition in the telecommunications sector of the country.

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