Safaricom Ethiopia Faces $325M Loss

A new World Bank report revealed Safaricom Ethiopia incurred USD 325 million in losses in 2024. The study accused Ethio Telecom of unfair pricing and blocking rival apps like M-Pesa, urging market reforms. Safaricom, which invested USD 1.6 billion, faces high infrastructure and license costs. The Bank called for regulatory action and satellite competition to improve market access and connectivity.