• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Monday, May 29, 2023
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

US Govt Approves $500 Million Loan to Safaricom Consortium for Ethiopia Expansion Project

Business ReporterbyBusiness Reporter
December 21, 2020
in Kenyan News
Reading Time: 2 mins read
Safaricom

Safaricom:


The United States Government-owned International Development Finance Corporation (DFC) has announced the approval of a $500 million credit line to Kenya’s leading Telco, Safaricom and a consortium of firms seeking a Telecommunication license in Ethiopia.

The credit line, which is part of DFC’s investments this quarter amounting to over $2.1 billion, will finance the design, development, and operation of a new private mobile network provider as well as the acquisition of a mobile network provider license.

“The financing approved by DFC will be critical in facilitating private sector investment to increase economic growth in developing countries, especially in continuing to respond to the economic and health impacts from the pandemic,” said DFC CEO Adam Boehler in a statement to the media.

728x90@2x 1 728x90@2x 1 300x250@2x 1
ADVERTISEMENT

Safaricom disclosed earlier this year it would need up to US$1-billion for the Ethiopia project and it will rely on debt to fund the joint bid by a consortium including parent Vodacom Group and two other entities.

During Vodacom’s H1 2021 results presentation recently, it was revealed that Safaricom will have a majority stake of 51% in the consortium while South Africa’s Vodacom, will have a 5% stake in the consortium and the remaining share will go to strategic investors.

ALSO READ;

Safaricom’s Entry into Ethiopia is High Risk, High Return – Citi

Safaricom Among the Final 12 Firms Bidding for Ethiopia’s Telecom License


Previous Post

Weekly turnover at the NSE drops 23.2% to KSh 2.1 Billion

Next Post

Homeboyz Entertainment Makes stock market debut

Related Posts

Kenya Power Eyes Shipment of 340,000 Electricity Metres to Steer Connection

Kenya Power Issues Profit Warning

May 26, 2023
Nairobi - IMF

Moody’s Places Kenya’s Government Ratings on Review for Downgrade

May 15, 2023

Safaricom overcomes difficult macro-environment to post strong earnings and expand operations in Ethiopia

May 15, 2023

From Kenya to India: Join the Pamoja Hackathon and Innovation Challenge for a Chance to Showcase Your Brilliant Ideas

May 15, 2023

Angaza Awards 2023 Top Finalist; Audrey Abakah

May 11, 2023

Who Will be the Next Governor of Central Bank of Kenya? Meet the Finalists

May 3, 2023

Kenya’s Capital Markets Regulator Introduces Guidelines for Broker-Dealers

May 1, 2023

Kenya’s Avenue Group Secures $12.7m Loan from IFC to Expand Healthcare Reach

April 26, 2023
Load More
Next Post
homeboyz

Homeboyz Entertainment Makes stock market debut

Follow Us

  • 167.4k Followers
  • 3.6k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

Jun
22
Thu
12:00 am Africa Tech Summit London @ London Stock Exchange
Africa Tech Summit London @ London Stock Exchange
Jun 22 @ 12:00 am – Jun 23 @ 9:00 pm
Africa Tech Summit London @ London Stock Exchange
After a sold out 2022 Africa Tech Summit London, the leading event series focused on African tech and investment across the continent will host its 7th annual London edition that will once again provide unrivalled[...]
View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In