Safaricom PLC convened its second Investor Day in Addis Ababa, uniting 150 participants, including analysts, regulators, government officials, Safaricom PLC Kenya and Ethiopia board members, and senior management. Themed “Scaling Operations for Ethiopia’s Digital Future,” the event aimed to provide a comprehensive overview of the company’s achievements, future plans, and the ongoing rollout progress in Ethiopia.
During the event, Adil Khawaja, Board Chairman of Safaricom PLC, reiterated the company’s enduring commitment to Ethiopia, considering it a pivotal growth market. He expressed confidence in Safaricom’s capacity to lead digital innovation and provide substantial value to customers, shareholders, and local communities in Ethiopia.
Safaricom Group CEO Peter Ndegwa underscored the remarkable success of Safaricom Ethiopia within a short timeframe, emphasizing the strategic focus on scaling operations for the country’s digital future. As of December 31, 2023, Safaricom Ethiopia boasted over 2,200 base stations covering 33 cities, achieving a population coverage exceeding 30%. The M-PESA service, with over 3 million customers, continues to experience rapid growth.
Michael Joseph, Chairman of the Safaricom Telecommunications Ethiopia Ethiopia Board, expressed enthusiasm about the growth opportunities in Ethiopia, highlighting a commitment to innovation and delivering high-quality services, including reliable internet connectivity.
Safaricom Telecommunications Ethiopia PLC CEO, Wim Vanhelleputte, provided insights into the company’s progress since launching commercial operations in October 2022. He affirmed a commitment to building an innovative brand, ensuring superior customer experiences, and contributing to financial inclusion in Ethiopia through the M-PESA platform.
The Investor Day serves as a crucial element in Safaricom group’s efforts to engage with business partners and stakeholders, offering valuable insights into operations, strategies, and the overall impact of its initiatives. The Addis Ababa event followed a successful edition in Nairobi held in February 2023.
