Safaricom and its partners in the Ethiopian venture will see their combined stake drop by up to 15.5 percent after the International Finance Corporation (IFC) announced a plan to purchase Sh19.2 billion ($160 million) worth of shares in the subsidiary.
Kenya’s biggest telco is the major shareholder in the Ethiopia venture with a stake of 55.7 percent and the entry of IFC as a shareholder could see its ownership drop to below the 50 percent mark, reducing its exposure in the populous nation.
