Safaricom

Africa’s largest bank by assets, Standard Bank, has provided a $138 million term facility to Safaricom Telecommunications Ethiopia PLC (STEP), supporting the Kenyan telecom’s fast-growing operations in Ethiopia. The deal, announced 10 December 2025, positions Standard Bank as sole arranger, lender, facility agent and advisor. The funds will drive further rollout of digital infrastructure and […]

Safaricom has solidified its status as a key player in Kenya’s economy, reporting an annual contribution of Sh1.2 trillion, which accounts for over 8% of the country’s GDP. This milestone reflects the company’s growth and its significant role in enhancing financial inclusion through services like M-Pesa. Key Takeaways Safaricom’s contribution to Kenya’s GDP is now […]

Safaricom Plc has announced an impressive 11% increase in its profits, surpassing market expectations. This growth is primarily driven by strong performance in its Kenyan operations, despite challenges faced in its Ethiopian market due to currency depreciation. The company is optimistic about future growth as it continues to expand its customer base in Ethiopia. Key […]