Safaricom Telecommunications Ethiopia Plc raised its local borrowings to an equivalent of Sh18.8 billion at the end of December 2023 as part of the diversification of its funding structure.
Disclosures by the company’s majority shareholder, Safaricom Plc, show that borrowings from the Ethiopian market rose from Sh15.2 billion in June 2023. The telco says the operating unit’s local market borrowings are set at varying interest rates.
