Wednesday, November 29, 2023
BusinessConsortium to invest USD 300 mln annually for ICT, networking infrastructure

Consortium to invest USD 300 mln annually for ICT, networking infrastructure

Safaricom Telecommunications Ethiopia announced its plans to invest USD 300 million annually for Information and Communication Technology (ICT) and networking infrastructure.

It is to be recalled that Safaricom was awarded a telecommunications license to operate in Ethiopia for USD 850 million. It has a plan to invest USD 8.5 billion over the coming 10 years.

Officials of the company briefed media late this week about their ongoing preparations to kick off operation by the coming year and introduce Executive Office members to the media.

During the press conference, Safaricom PLC CEO, Peter Ndegwa told members of the media that the company is commencing its preparations for a commercial launch and that recruitment has already begun and will continue to hire at least 1000 employees, when it becomes fully operational in the coming year.

Moreover, the company is set to recruit 450 graduates over the next three years into a global development program dubbed “Discover Graduate Management Program. This recruitment will boost the industry and the country’s employment,” Ndegwa said.

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“To truly achieve the digital Ethiopia objective, we are actively seeking and engaging with various Ethiopian partners,” said Ndegwa adding, “We bring the right mix of talent and technology to provide digital transformation in Ethiopia with one goal in mind that is transforming lives. Furthermore, the company will bring a world-class digital service across the entire region.”

CEO of the Safaricom Telecommunications Ethiopia PLC, Anwar Soussa for his part indicated that the company is discussing with pertinent authorities including the National Bank of Ethiopia (NBE) and the Ministry of Finance (MoF) on future regulatory frameworks and environment to begin operation of mobile financial services once its telecom operation is in the first half of 2022.

Officials of the company said that they are ready to start immediately once conditions are clarified; and announced its plan to start infrastructure development after one year.

“Ethiopia offers massive opportunities. This country is a country of the future, and we are going to be a part of it,” Anwar said.

The Safaricom led consortium comprises of Vodacom, Vodafone, Sumitomo and CDC Group.

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