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Safaricom Ethiopia's $1.5 billion investment with local telecom tower yields results

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Safaricom Ethiopia’s $1.5 billion investment with local telecom tower yields results

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May 29, 2024
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Safaricom Ethiopia's $1.5 billion investment with local telecom tower yields results
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Safaricom Ethiopia, a telecommunications operator, has announced that it has received its initial batch of 13 locally manufactured telecom towers from Woda plc., the first company in the country to produce such towers. This move aims to enhance and expand their network infrastructure.

The telecom provider claims that Woda will provide 68 superior towers for 50 million birr, or around $870,000. This news follows the announcement by Safaricom Ethiopia one month ago of a $1.5 billion plan to construct 5,000 new towers over the course of three years in order to increase network infrastructure and offer dependable, high-quality telecommunications services throughout the nation.

Read also: No pressure to split M-Pesa despite CBK and Treasury Interest- Safaricom CEO

Safaricom’s Ethiopia’s Expansion

Currently, the telecom has around 2,800 towers, of which two-thirds are leased, and the other third are self-built. By January 1, 2024, there would be 24.83 million Internet users in Ethiopia, a little over 129 million people, or 19.4% of the country’s total population. The telco emphasised the company’s commitment to helping local industries and advancing Ethiopia’s economic development by saying that the development is a necessary step towards providing all Ethiopians with dependable and accessible telecom services.

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Their towers are of high quality; they have the largest galvanization plant in Africa, and their affordability will let us grow our network more successfully and efficiently. According to Safaricom Ethiopia CEO Wim Vanhelleputte, “This collaboration not only supports our operational goals but also helps to make Ethiopian manufacturing the standard for Africa.”

Woda’s Landmark Partnership with Safaricom Ethiopia

According to Woda CEO Steven Cui, they are the first local business to provide telecom towers to Safaricom Ethiopia. He added that the business is dedicated to upholding the greatest standards of dependability and quality in its offerings.

Read also: Safaricom appoints Churchill Ochieng’ as new CEO

The telecom claimed that the network expansion would increase coverage and capacity, give people and companies access to cutting-edge mobile and digital finance services and improve connectivity when it revealed its intention to invest in new towers in April 2024.

This strategic move is expected to create numerous job opportunities and foster technological innovation, contributing significantly to the socio-economic development of Ethiopia.

The collaboration also underscores the potential for local businesses to play a pivotal role in the country’s growing telecom sector. Furthermore, it highlights the importance of robust infrastructure in enhancing connectivity and facilitating access to essential services, which are crucial for economic growth and social progress.

Tags: Safaricom
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