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Safaricom taps Sh18bn loan for Ethiopia expansion

Safaricom Group CEO Peter Ndegwa speaks during the half-year results announcement, for the financial year 2025/2026, at Safaricom's headquarters in Westlands, Nairobi, Kenya on November 6, 2025. 

Photo credit: Reuters

By  Dennis Musau

Technology Correspondent

Nation Media Group

Safaricom has borrowed $138 million (Sh17.8 billion) from Standard Bank to fund the expansion of its subsidiary in Ethiopia.

Africa’s largest bank by assets, operating in Kenya as Stanbic, is the sole arranger and lender of the loan. Safaricom will invest the capital towards expanding digital infrastructure and services in Ethiopia.

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