Standard Bank & Safaricom Telecommunications Announce USD 138 Million Partnership
- Standard Bank partnered with Safaricom Telecommunications to fund USD138 million for digital infrastructure in Ethiopia.
- The bank acted as the sole arranger, lender, and facility agent for the term facility to Safaricom Telecommunications Ethiopia PLC.
- Dr. Joshua Oigara emphasized the partnership's role in enabling sustainable growth and strengthening economic linkages in East Africa.
The partnership between Standard Bank and Safaricom is a significant step towards enhancing digital infrastructure in Ethiopia, which is crucial for economic growth and inclusion. However, ongoing challenges such as regulatory hurdles and market competition must be addressed to ensure the long-term success of this initiative.
