Standard, Safaricom in $138 Million Ethiopia Telco Deal

Standard Bank backs Safaricom Ethiopia with $138m funding

Standard Bank Group, Africa’s largest lender by assets, led by South African banker Sim Tshabalala, has extended a $138 million (R3.1 billion) funding facility to Safaricom Telecommunications Ethiopia as the Kenyan operator deepens its push in one of the continent’s most promising telecom markets. Longstanding partnership The group acted as sole arranger, lender and facility agent, while also advising on the structure of the deal. Standard Bank …

Standard Bank powers Safaricom’s Ethiopian expansion with $138 million financing - Innovation Village | Technology, Product Reviews, Business

Standard Bank has entered into a strategic partnership with Kenyan telecommunications giant Safaricom, providing a substantial funding package of $138 million to support Safaricom Telecommunications Ethiopia. This investment underscores a shared commitment to accelerating digital connectivity and inclusion across one of Africa’s fastest-growing markets. As part of the transaction, Standard Bank acted as the sole arranger, lender, and facility ag…

Standard Bank set to provide $138 million to Safaricom Ethiopia – New Business Ethiopia

Standard Bank, Africa’s biggest bank by assets, has partnered with Safaricom Telecommunications, Kenya’s largest telecommunications provider, to provide funding of $138 million as part of investment towards Safaricom Telecommunications Ethiopia PLC (STEP). The bank acted as the sole arranger, lender, and facility agent on the term facility to STEP and played an advisory role. Standard […]