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Safaricom’s Second Investor Day Highlights Remarkable Growth in Ethiopia

Safaricom Investor Day 2024


  • Safaricom PLC reiterated its long-term commitment to Ethiopia as a key growth market.
  • Since the commercial launch in October 2022, Safaricom Ethiopia has achieved significant milestones, boasting over 2,200 base stations covering 33 cities and exceeding 30% population coverage.
  • Safaricom is focused on scaling operations for Ethiopia’s digital future, aiming to build a world-class network, drive digital innovation, and enhance customer experiences.

Safaricom hosted its second Investor Day in Addis Ababa, Ethiopia, showcasing progress in the implementation of its strategic priorities and the expansion of its operations in the Ethiopian market. The event, themed “Scaling Operations for Ethiopia’s Digital Future,” brought together key stakeholders, including analysts, regulators, government representatives, and Safaricom board members and senior management.

Adil Khawaja, Board Chairman of Safaricom PLC, reiterated the company’s long-term commitment to Ethiopia, emphasizing the nation as a key growth market for Safaricom. He is confident in Safaricom’s ability to drive digital innovation and deliver exceptional value to customers, shareholders, and the communities they serve.

Safaricom Group CEO Peter Ndegwa celebrated the success of Safaricom Ethiopia, highlighting the rapid achievements made since its commercial launch in October 2022. Safaricom currently has over 2,200 base stations covering 33 cities and a population coverage exceeding 30% in Ethiopia.

The progress of M-PESA, Safaricom’s mobile money platform, was a notable highlight. With over 3 million customers and growing rapidly, M-PESA is playing an important role in transforming financial inclusion in Ethiopia. Safaricom Telecommunications Ethiopia PLC CEO, Wim Vanhelleputte, expressed enthusiasm saying, “We will continue to establish an innovative brand loved by our customers and build a world-class network that delivers superior customer experience. We also look forward to the transformation M-PESA will bring to financial inclusion in Ethiopia,

Michael Joseph, Chairman of the Safaricom Telecommunications Ethiopia Board, shared his sentiments saying, “I am excited about the vast opportunities that lie ahead for our company’s growth in Ethiopia. Leveraging innovation and our commitment to delivering high-quality services, including reliable internet connectivity, we are poised to empower individuals, businesses, and communities across Ethiopia.”

Read: Safaricom Appoints Wim Vanhelleputte as New CEO for Ethiopian Unit

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