President Ruto flies out for the launch of Safaricom Ethiopia

President Ruto is also expected to hold bilateral talks with Prime Minister Abiy Ahmed Ali in Addis Ababa.

“President Williams Ruto has left for Addis Ababa, Ethiopia, where he will hold bilateral talks with Prime Minister Abiy Ahmed Ali. The two leaders will thereafter preside over the launch of Safaricom in Ethiopia,” read an announcement by State House.

Defence CS nominee Aden Duale, Foreign Affairs CS nominee Alfred Mutua see off President William Ruto as he flies out to Ethiopia on Thursday, October 6, 2022 Pulse Live Kenya

The leading telco has been setting up structures and recruiting staff ahead of its launch on Thursday, October 6 by Safaricom PLC CEO Peter Ndegwa, Safaricom Ethiopia CEO Anwar Soussa, and Safaricom Ethiopia chairman Michael Joseph.

The company plans on building a team of over 1,000 employees by June 2023.

READ: Safaricom Ethiopia expected to break even in four years

Additionally, the company is also eyeing to recruit 450 graduates over the next three years into a global development programme dubbed the Discover Graduate Management Programme.

With 55.7% of the company's shares, Safaricom Kenya is the largest stakeholder in the new company.

KDF bosses see off President William Ruto as he flies out to Ethiopia on Thursday, October 6, 2022 Pulse Live Kenya

Other shareholders include South African Vodacom (6.2%), Sumitomo of Japan (27.2%), British International Investment (BII) of the UK (10.9%), and Sumitomo of Japan (27.2%).

Safaricom Ethiopia will be the sole competition of Ethio Telecom.

President William Ruto arrived in Addis Ababa for talks with Prime Minister Abiy Ahmed and also launch Safaricom Ethiopia on October 6, 2022 Pulse Live Kenya