U.S. Sanctions Muddle Vodafone Funding for Ethiopian Entry
- Consortium secured fianance from U.S. state development agency
- DFC pausing Ethiopia investments on U.S. move over Tigray war
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Vodafone Group Plc’s plans to expand in Ethiopia have been complicated by the U.S. state development agency’s decision to pause investments in the country, according to people familiar with the matter.
A group including the U.K.’s Vodafone, Safaricom Ltd. and Vodacom Group Ltd. were awarded a new mobile-phone license by the Ethiopian government on Saturday, and had agreed to take a $500 million loan from the U.S. International Development Finance Corporation to help with acquisition and development costs.