Safaricom hosts second Investor Day to showcase progress In Ethiopia

Safaricom PLC hosted its second Investor Day in Addis Ababa today, offering insights into the company’s progress in Ethiopia and future plans to a packed audience of 150 analysts, regulators, government representatives, and board members.

Themed “Scaling Operations for Ethiopia’s Digital Future,” the event highlighted Safaricom’s commitment to the Ethiopian market and its ambition to become a key player in the country’s telecommunications landscape.


Key Takeaways:

  • Strong Growth: Safaricom Ethiopia boasts over 2,200 base stations covering 33 cities, reaching 30% of the population. M-PESA, the mobile money platform, already has over 3 million customers and is experiencing rapid growth.
  • Leadership Commitment: Adil Khawaja, Board Chairman, reiterated Safaricom’s long-term vision for Ethiopia, emphasizing its importance as a key growth market. Peter Ndegwa, Group CEO, expressed pride in Safaricom Ethiopia’s achievements and pledged continued support.
  • Focus on Innovation: Michael Joseph, Chairman of the Safaricom Telecommunications Ethiopia Board, emphasized leveraging innovation to empower individuals, businesses, and communities through reliable internet connectivity.
  • M-PESA’s Impact: Wim Vanhelleputte, CEO of Safaricom Telecommunications Ethiopia, highlighted the potential of M-PESA to transform financial inclusion in the country.

Looking Forward:

Safaricom remains dedicated to establishing itself as an innovative brand loved by customers and building a world-class network in Ethiopia. The company is confident that its commitment to digital innovation will contribute significantly to the country’s digital future.

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