The American finance institution DFC is taking 10% of Safaricom Ethiopia’s share
The American finance institution DFC taking 10% of Safaricom Ethiopia’s share. Business Daily reported that the American international Development finance corporation DFC is going to invest 257 million dollars in Safaricom Ethiopia company.
The American finance institution DFC is a Government agency of the united states, DFC works with private sectored partners focusing on solving the most crucial challenges of this developing world that we are in today, DFC invests and gives a financial solutions to sectors like Health care, initial infrastructure, Agriculture, Energy and Technology.
DFC planning to take 10% of Safaricom Ethiopia’s share is one of the companies development support contributions, DFC out gives its support by categorizing under different sectors accordingly to the purpose and type of the investment along with criteria,
which are:- Debt financing, Equity investments, Feasibility Studies, Investment Funds, Political Risk Insurance, Technical Assistance
In addition to its investment plan, the company is also Known for its support to small Businesses and Women entrepreneurs which stands in respect for Human Rights, workers’ rights, and environmental well-being.
What changes can DFC taking 10% of Safaricom Ethiopia’s share would make on Safaricom
Safaricom Ethiopia joined the Ethiopia telecom sector Being the first private and foreign company to the local sector, Safaricom officially started its service in October 2022 and has recently received its license from the National Bank of Ethiopia to proceed with its digital Payment service M PESA. Safaricom Ethiopia invested way more than the planned budget on the networkhttps://banksethiopia.com/news/safaricom-gets-mobile-money-mpesa-license/ing time which also has caused about Ten percent value of depression on the annual profit of its mother company, Kenya’s Safaricom.
DFC taking 10% of Safaricom Ethiopia is in the aim of investment, supporting the financial loss and development of the telecommunication sector throughout the country.
Besides the number of shares that are sold to stakeholders Kenya’s Safaricom still has a 55.7 percent stake in Safaricom Ethiopia and an agreement has been made with the other patterns that Safaricom Kenya will not give up its share Dominance and stay holding the largest share.