Deals
Safaricom Likely to Borrow to Fund Ethiopia Telecom Bid
- Any Ethiopia business could take 10 years to turn profitable
- CEO Joseph sees need for rule changes before bidding
An employee arranges a display of smartphones at a Safaricom shop in Nairobi.
Photographer: Simon Maina/AFP via Getty ImagesThis article is for subscribers only.
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Safaricom Plc., weighing an offer for Ethiopia’s telecom business later this year, plans to take on debt to fund a joint bid by a consortium including parent Vodacom Group Ltd. and two other entities.