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Safaricom braces for impact as ongoing Ethiopia crisis persist

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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.

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