Safaricom 4G and 5G mobile network expansion

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This project involves the construction and expansion of the 4G and 5G network in Ethiopia by the Safaricom Telecommunications Ethiopia Private Limited Company (Safaricom Ethiopia or STE) - the special purpose vehicle, owned by the following shareholders: Safaricom (55.7%), Sumitomo (27.2%), British International Investment (BII) (10.9%), Vodacom (6.2%). The Multilateral Investment Guarantee Agency (MIGA) will provide 10-year guarantees of $1 billion to cover the equity investments. A portion of the MIGA guarantees, $76 million, will come from the MIGA Guarantee Facility, part of the International Development Association's Private Sector Window, in the form of a first loss layer. This initiative will allow Safaricom Ethiopia to expand its 4G and 5G network coverage in rural and urban areas in the African state. In July 9th 2021 the Safaricom Ethiopia was granted a license to build, own and operate a nationwide public telecommunication network in the country, as well as to offer telecommunications services. IFC will make a $157.4 million equity investment in Global Partnership for Ethiopia BV (GPE) and a $100 million A-loan. The financial close date is June 8th, 2023. https://www.connectingafrica.com/author.asp?section_id=761&doc_id=785268 https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=27593 https://disclosures.ifc.org/project-detail/SII/44591/global-partners https://www.miga.org/project/safaricom-telecommunications-ethiopia-1