Safaricom flags Ethiopia prospects as startup costs cut earnings

, launched its Ethiopia network last year, betting that the populous nation will power growth after about five years of investment.

"The Ethiopia opportunity cannot be understated," he said, adding that Safaricom will start offering financial services in the quarter starting next month. It expects core earnings to come in at 75 billion to 81 billion shillings this financial year, Ndegwa said, as the rollout costs of the Ethiopia network continue to take a toll.

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