IFC says it plans to invest $160m in Safaricom Ethiopia

The World Bank's private investment arm, the International Finance Corporation (IFC), said on Thursday it planned to inject up to $160-million in equity into telecoms firm Safaricom Ethiopia to help fund its capital expenditure. Safaricom Ethiopia, partly owned by Kenyan telecoms operator Safaricom, started phased operations in August in the country's Dire Dawa city and Haramaya this month.

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