June 20, 2024

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Safaricom Ethiopia Prioritizes Ethiopian-Made Telecom Tower

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Safaricom Ethiopia, the leading telecommunications company in the country, has taken a significant step towards localizing its infrastructure by collaborating with Woda Metals.

Woda Metals is an Ethiopian-based manufacturer of various steel structures. This strategic partnership aims to utilize locally produced telecom towers as Safaricom Ethiopia expands its network and services throughout Ethiopia.

Woda Metals is known for its expertise in manufacturing power transmission towers, telecommunication towers, cables, galvanization, and steel structures. Woda Metals will be responsible for providing the necessary towers to support Safaricom Ethiopia’s network infrastructure.

Last week, the company received 13 out of the 68 locally manufactured telecom towers it had ordered from Woda Metals.

“This is a historic moment for Safaricom in Ethiopia as we have started the localization of the manufacturing of our infrastructure. The quality of their towers is good; their galvanization plant is the biggest in East Africa and their cost-effectiveness will enable us to expand our network more efficiently and effectively,” Safaricom Ethiopia CEO, Wim Vanhelleputte said.

Last month the CEO of Safaricom said that Safaricom Telecommunications Ethiopia aims to triple its telecom tower network in the next three years by investing over USD 1.5 billion to improve coverage across the country.

Moreover, last week, Safaricom Ethiopia, requested the International Finance Corporation (IFC) for a new loan of $350 million. This money will help Safaricom Ethiopia expand its phone and mobile money services in the country. The IFC, which provides financing to private companies, has already given Safaricom Ethiopia a loan of $157.4 million and bought shares worth $100 million. By buying these shares, the IFC now owns 7.25% of Safaricom Ethiopia. Now, the IFC plans to give Safaricom Ethiopia more money by adding $350 million to the existing loan and investment. Read More…