Safaricom plans to mobilize two billion dollars from international financiers in the next five years for its operation in Ethiopia. Part of the proposed funding will also be raised internally and through rental financing from equipment vendors, according to a report by the East African Daily.
It plans to source the finance from local banks and development finance institutions (DFI). The telecom company has so far invested over half a billion dollars, excluding what it has paid for license- 850 million dollars.
Earlier this year, Safaricom launched 100 million dollars worth data centres, while investing 300 million dollars to import equipment. It is currently negotiating with ethio telecom to sign a final deal on infrastructure-sharing.
