Ethiopia investment weighs on Safaricom with 18% profit drop
By VINCENT OWINO Safaricom’s net profit in the first half of the fiscal year ended September fell to $248 million, mainly due to its massive capital expenditure to start up the Ethiopian subsidiary which began operations last month. The telecoms company’s revenue in the year that began in April rose 4.6% year-on-year to $1.2 billion, …
Ethiopia investment weighs on Safaricom with 18% profit drop Read More »