Safaricom Ethiopia Faces $325M Loss

Published: 07 Oct, 2025 08:00 Sources: S1S2S3 Category: Business Language: English Country: Ethiopia
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A new World Bank report revealed Safaricom Ethiopia incurred USD 325 million in losses in 2024. The study accused Ethio Telecom of unfair pricing and blocking rival apps like M-Pesa, urging market reforms. Safaricom, which invested USD 1.6 billion, faces high infrastructure and license costs. The Bank called for regulatory action and satellite competition to improve market access and connectivity.