Safaricom and its partners in the Ethiopian venture paid the International Finance Corporation (IFC) a transaction fee of $4 million (Sh474 million) for services rendered in relation to the entry into the new market.
The Telco says in its latest annual report that the global financier, which offers advisory services besides debt and equity investments, was hired by the consortium that won a licence to set up a second telecommunications firm in that market called Safaricom Ethiopia.
