Safaricom #ticker:SCOM and its partners have signed an agreement to borrow up to $500 million (Sh55.7 billion) from America’s sovereign wealth fund US International Development Finance Corporation to fund expansion into Ethiopia’s telecommunications market.
Safaricom and its parent companies Vodafone Group Plc and Vodacom Group Limited have formed a joint venture – Global Partnership for Ethiopia — through which they are bidding for one of two telecommunications licences being auctioned in that country.
