Safaricom Telecommunications Ethiopia Funding, Investors & Competitors

Safaricom Telecommunications Ethiopia has raised $11M across 1 funding round, most recently a $11M strategic investment round in July 2026.

Last Safaricom Telecommunications Ethiopia funding round

$11M

Strategic investment · Jul 2026

Cumulative funding Safaricom Telecommunications Ethiopia raised

$11M

across 1 funding round

Key investors in Safaricom Telecommunications Ethiopia

Safaricom Telecommunications Ethiopia Overview

About Safaricom Telecommunications Ethiopia

Safaricom Telecommunications Ethiopia is an Addis Ababa-based telecommunications provider launched in 2022 as a subsidiary of Kenya's Safaricom. The company rolls out mobile voice, data services, and M-Pesa financial inclusion products to support Ethiopia's nationwide digital infrastructure. Operating under a 15-year unified license, it builds 4G networks covering major cities and rural areas while partnering with local entities for tower infrastructure and spectrum allocation.


Founded

2021

HQ

EthiopiaAddis Ababa

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Safaricom Telecommunications Ethiopia Funding History

Safaricom Telecommunications Ethiopia has raised a total of $11M across 1 funding round, plus 1 secondary share sale.

Safaricom Telecommunications Ethiopia funding rounds

Safaricom Telecommunications Ethiopia funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2026Strategic investmentSafaricom (lead)$11MSafaricom PLC increased its effective stake in Safaricom Telecommunications Ethiopia Plc to 54.17% after contributing KSh19.64 billion through Vodafamily Ethiopia Holding Limited to a KSh21.3 billion capital raise in July 2026. The broader Ethiopian operation’s funding reached KSh345.7 billion by June 2026, comprising KSh298.3 billion in shareholder equity, KSh15.5 billion in local-currency debt, and KSh31.8 billion in foreign-currency borrowing; Safaricom PLC’s cumulative contribution reached KSh159.6 billion. The ownership increase was described as potentially temporary because non-participating consortium investors retain contractual rights to restore previous ownership levels. The capital injection supports continued network expansion, operational scaling, and growth ambitions in Ethiopia, where Safaricom has targeted an eventual EBITDA break-even by March 2027. The business had 14.7 million customers by late July 2026, and management has framed the investment as part of a long-term commitment to building one of Africa’s largest telecom expansion projects. The Ethiopian operation was launched through a consortium structure involving Safaricom, Vodacom, Vodafone, Sumitomo Corporation, British International Investment, and the International Finance Corporation. Safaricom Telecommunications Ethiopia Plc is the Ethiopian subsidiary of Safaricom and operates under a consortium-funded model that includes shareholder equity, deferred vendor payments, and third-party borrowings. The company’s disclosed funding included the telecom licence and M-Pesa licence costs, and its headcount reached 1,124 employees in 2026. The subsidiary had previously been established as Global Partnership for Ethiopia before becoming Safaricom Telecommunications Ethiopia Plc.
Jun 2023SecondaryInternational Finance Corporation (lead)$157MSafaricom Telecommunications Ethiopia, a subsidiary of Kenya’s Safaricom PLC and part of the Global Partnership for Ethiopia (GPE) consortium with Vodafone, Vodacom, Sumitomo Corporation, and British International Investment, operates as the first private telecom operator in Ethiopia following the liberalization of the sector. The company won a full-service telecom license in May 2021 and launched services in October 2022, aiming to provide 4G and 5G networks, affordable internet, and reliable connectivity across urban and rural areas. It also secured a mobile money license in May 2023 to launch M-PESA financial services. On August 7, 2023, the International Finance Corporation (IFC), as lead investor, closed a $257.4 million deal with Safaricom Ethiopia, comprising a $157.4 million equity investment for a minority stake in GPE and a $100 million loan to its subsidiary Safaricom Telecommunications Ethiopia. The Multilateral Investment Guarantee Agency (MIGA) provided $1 billion in 10-year guarantees covering equity investments by the consortium shareholders. IFC remains a minority shareholder while Safaricom PLC holds the majority stake. The funding supports the construction and operation of Safaricom Ethiopia’s greenfield telecom network to enhance digital connectivity in Ethiopia, a market of over 115 million people that was previously a telecom monopoly. The company plans annual investments of $300 million over ten years and additional expansions like more shops and affordable routers in the coming years.

Who has invested in Safaricom Telecommunications Ethiopia?

2 investors have backed Safaricom Telecommunications Ethiopia across its funding rounds, including International Finance Corporation and Safaricom.

Lead investors include Safaricom and International Finance Corporation.


Safaricom Telecommunications Ethiopia Investors

Investors in Safaricom Telecommunications Ethiopia by funding rounds participated
InvestorHQRoundsRoleFirst check

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Safaricom Telecommunications Ethiopia Competitors

Safaricom Telecommunications Ethiopia competitors include listed companies like SpaceX, SoftBank Group, China Mobile and Verizon, and private ones like Reliance Jio and VodafoneThree.

Public and private companies comparable to Safaricom Telecommunications Ethiopia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SpaceXUnited StatesUnited StatesPublicly listed$19B$3.9B$2.0T-
SoftBank GroupJapanJapanPublicly listed$50B$6.7B$229B7.0x
China MobileChinaChinaPublicly listed$157B$54B$223B1.2x
VerizonUnited StatesUnited StatesPublicly listed$138B$47B$201B2.8x
Reliance JioIndiaMumbaiPrivate$4.7B$2.1B$58B12.5x
VodafoneThreeUnited KingdomNewburyPrivate-$2.5B$12B-

Safaricom Telecommunications Ethiopia Public Comps

Safaricom Telecommunications Ethiopia is still privately-owned, but its public comps include SpaceX, SoftBank Group, China Mobile, Verizon, T-Mobile US, AT&T, Deutsche Telekom, Bharti Airtel, NTT Group and Comcast.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SpaceX$19B$3.9B106.0x-503.3x-
SoftBank Group$50B$6.7B7.3x7.0x54.7x9.2x
China Mobile$157B$54B1.2x1.2x3.5x3.8x
Verizon$138B$47B2.8x2.8x8.2x7.4x
T-Mobile US$88B$32B3.3x3.2x9.3x8.1x
AT&T$126B$55B2.7x2.6x6.2x7.1x
Deutsche Telekom$136B$56B2.5x2.5x6.2x6.2x
Bharti Airtel$22B$12B6.2x5.7x11.3x10.1x

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Common questions about Safaricom Telecommunications Ethiopia

When was Safaricom Telecommunications Ethiopia founded?Safaricom Telecommunications Ethiopia was founded in 2021.
Where is Safaricom Telecommunications Ethiopia headquartered?Safaricom Telecommunications Ethiopia is headquartered in Addis Ababa, Ethiopia.
Is Safaricom Telecommunications Ethiopia publicly listed?No, Safaricom Telecommunications Ethiopia is a private, VC-backed company.
How much funding has Safaricom Telecommunications Ethiopia raised?Safaricom Telecommunications Ethiopia has raised $11M across 1 funding round.
What was Safaricom Telecommunications Ethiopia's last funding round?Safaricom Telecommunications Ethiopia's last funding round was a $11M strategic investment round in July 2026, led by Safaricom.
Who are Safaricom Telecommunications Ethiopia's investors?Safaricom Telecommunications Ethiopia's investors include International Finance Corporation and Safaricom.
Which companies are comparable to Safaricom Telecommunications Ethiopia?Companies comparable to Safaricom Telecommunications Ethiopia include SpaceX, SoftBank Group, China Mobile, Verizon, Reliance Jio and VodafoneThree.

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