Ethio Telecom to be the first company to list on Ethiopia's new stock market, selling a 10% stake as part of privatization efforts led by Prime Minister Abiy Ahmed.
Safaricom, a consortium led by Kenya's telecom giant, now challenges Ethio Telecom's dominance in Ethiopia's telecom sector serving a population of approximately 120 million. Ethiopia's telecom sector, serving a population of about 120 million, was long dominated by Ethio Telecom until Safaricom, a consortium led by Kenya's telecom giant, won the country's first private telecom license in 2022.