Data from the NSE indicates investors traded Sh833 million worth of Safaricom shares yesterday alone, with its stock hitting an all-time high of Sh43.10, before closing the day at Sh42.75. In a statement yesterday, Safaricom announced the formation of Vodafamily Ethiopia Holding Company Limited, incorporated in England and 90 per cent owned by Safaricom, 10 per cent by Vodacom International Limited and 1 share held by Vodafone International Limited. Vodafamily Ethiopia will further own a 61.9 per cent stake of a new holding company registered in the Netherlands called Global Partnership for Ethiopia B.V. (GPE). Safaricom CEO Peter Ndegwa said the Netherlands was chosen to house the consortium owing to a bilateral investment agreement between the Netherlands and Ethiopia. “Given that we have an international consortium of investors the holding company is held in the Netherlands,” he explained.

Source: Standard Digital May 25, 2021 21:00 UTC