Safaricom’s stake in Ethiopian unit falls to 54% after new Sh25bn funding

Safaricom Plc’s stake in its Ethiopian subsidiary, Safaricom Telecommunications Ethiopia (STE), edged down from 54.17% in March to 54.09% in the six months to September. The slight decline followed a new Sh25 billion ($193 million) funding round for the unit. Safaricom’s cumulative funding in STE rose 3.4%, from Sh158.8 billion to Sh164.3 billion.