Safaricom Shareholders Approve Ethiopia Entry, Release KES 36.8 Billion Dividend Payout

Peter Ndegwa, CEO of Safaricom


Since then, Safaricom has been given the green light to enter the lucrative Ethiopian market after a long period of bidding and negotiations.

Since then, it has also been established that the operator will run its operations in the country as Safaricom Telecommunications Ethiopia PLC.

It should be noted that Safaricom will not do business in Ethiopia as a single company; the entry into the country materialized as a partnership with other partners, namely Vodacom Group, Vodafone Group, Sumitomo Corporation, and CDC Groupall under the umbrella of the Global Association.

News from Safaricom has also detailed the company’s plan for the new market in 2022.

First, the shareholders have already agreed to establish and incorporate the named Ethiopian subsidiary.

Operations are scheduled to begin operations from 2022.

Second, Anwar Soussa has already been appointed Managing Director of Safaricom Telecommunications Ethiopia PLC. Soussa will report to the board of directors of Safaricom Telecommunications Ethiopia PLC and Peter Ndegwa, Chief Executive Officer (CEO) of Safaricom PLC.

Third, Safaricom Telecommunications Ethiopia PLC is expected to create a digital transformation that will have a positive impact on the economic and social life of the second largest country in Africa, Ethiopia, home to more than 112 million people.

In Safaricom’s 13th At the Annual General Meeting, shareholders also approved the final dividend of KES 0.92 per share with a dividend payment amounting to KES36.8 billion.

The dividend will be payable no later than August 31, 2021 to shareholders in the Member Registry at the close of business on July 30, 2021.

Safaricom had previously approved an interim dividend of KES 0.45 per share worth KES18 billion that was paid to shareholders on March 31, 2021.

Quotes

Ethiopia is a critical part of our M&A strategy. We are proud to lead this association. which will provide quality and affordable mobile and internet connectivity to enable more Ethiopians to access quality telecommunications services.

Even when we start operations in Ethiopia, we are committed to continuing to invest in our country, ensuring that we always offer our customers superior network connectivity and efficiently improve our network, products and services..

Peter Ndegwa, CEO of Safaricom

1627708060 221 Safaricom Shareholders Approve Ethiopia Entry Release KES 368 Billion Dividend

The board is committed to working with management to deliver value to our shareholders but, more importantly, to ensure that we continue to be there for our clients, staff and the community, especially in this new phase..

Safaricom Chairman of the Board of Directors, Michael Joseph



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