Safaricom braces for impact as ongoing Ethiopia crisis persist

President William Ruto arrived in Addis Ababa, Ethiopia, for bilateral talks with Prime Minister Abiy Ahmed and the launch of Safaricom Ethiopia. [PCS]

The ongoing conflict and economic crisis in neighbouring Ethiopia have cast a dark shadow over Safaricom's prospects, analysts say.

Safaricom's plans to expand its operations in the Horn of Africa country had recently received a huge financial boost after the World Bank's private investment arm injected $257.4 million (Sh40.1 billion) into the consortium.