Safaricom to retain control of Ethiopia unit

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A Pedestrian walking past Safaricom Shop along Kenyatta Avenue in Nairobi on May 7, 2023. PHOTO | EVANS HABIL | NMG

The International Finance Corporation (IFC) will get under 10 percent stake in Safaricom Ethiopia on its planned $257 million (Sh35.3 billion) cash injection that has been split between debt and equity.

Splitting the amount between debt and equity will see Safaricom, which is the top shareholder in the Ethiopian unit with a 55.7 percent stake, retain a controlling stake.

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