Ethiopia: Safaricom Ethiopia Chief Executive Officer Leaves Business

18 August 2023
Addis Standard (Addis Ababa)

Addis Abeba — Anwar Soussa, Chief Executive Officer of Safaricom Telecommunications Ethiopia PLC (STEP), has left the telecom company nearly two years after he assumed the position.

An internal memo seen exclusively by Addis Standard confirmed that "Anwar Soussa, Chief Executive Officer, Safaricom Telecommunications Ethiopia PLC (STEP), will be leaving the business effective 31s July 2023 once his secondment comes to an end."

Safaricom appointed Anwar Soussa under a Managing Director position for its Ethiopia operations on 01 July 2021 following the consortium's entry into Ethiopia as the first private telecom operator. He was appointed to be "responsible for execution of the consortium's goal to bring about transformational economic and social impact in Ethiopia and positively enhance the lives of its over 112 million people."

He has since been leading Safaricom Ethiopia on behalf of the Global Partnership for Ethiopia Consortium.

"Anwar has steered Safaricom Ethiopia to acquire over 4 million customers, with the network now covering more than 25% of the population and spread across 50 cities/towns," the internal memo praised the outgoing CEO.

Earlier this month the World Bank Group's International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) announced plans for a $157.4 million equity investment in Global Partnership for Ethiopia BV (GPE) and a $100 million A-loan to its wholly owned subsidiary, Safaricom Telecommunications Ethiopia Private Limited Company (Safaricom Ethiopia).

The decision came less than a months after the National Bank of Ethiopia (NBE) issued a mobile money service license on 11 May to Safaricom M-Pesa Mobile Financial Service Plc, making it the first foreign investor in the industry to get licensed.

Read the original article on Addis Standard.

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