Row rect Shape Decorative svg added to bottom Absa supports Safaricom Ethiopia's next phase of growth and digital transformation Absa | Corporate and Investment Banking > Insights and Events > Absa supports Safaricom Ethiopia’s next phase of growth and digital transformation SHARE A tailored financing solution enabling network expansion, digital infrastructure investment and greater financial inclusion across Ethiopia. Absa has successfully acted as Mandated Lead Arranger and sole lender on a USD110 million financing facility for Safaricom Telecommunications Ethiopia PLC (Safaricom Ethiopia).The financing will support Safaricom Ethiopia's continued investment in mobile network expansion, digital infrastructure and the growth of the M-PESA ecosystem, helping accelerate connectivity and financial inclusion across Ethiopia. The transaction strengthens Absa's longstanding relationship with the Safaricom Group and demonstrates the bank's ability to deliver tailored, cross-border financing solutions that support client growth across Africa. By enabling critical digital infrastructure investment, Absa is helping advance Ethiopia's digital transformation while bringing its purpose of Empowering Africa's tomorrow, together... one story at a time to life. We are invested in your story, and we invite you to write it with us. For more information contact: Eric Riitho Narisa Balgobind https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Strengthening market access through funding diversification Lewis Group has returned to the public bond market after 13 years, raising R1.1 billion through a senior unsecured bond auction. Read more DEALS Absa supports multi-family residential growth with a R355 million Social Loan for Live Easy Absa Corporate and Investment Banking (CIB) has provided a R355 million Social Loan to multi-family residential developer Live Easy, which reinforces a growing relationship aimed at expanding access to quality, affordable rental housing in South Africa. Read more DEALS Supporting cleaner fuels and long-term energy resilience Natref is investing in refinery upgrades that support cleaner-fuel readiness, operational continuity and South Africa’s inland fuel supply. Read more
