- Safaricom adjusts Ethiopian investment to counter birr depreciation effects, with capex now set between Ksh28 billion and Ksh31 billion
- Revised forecast anticipates a lower full-year earnings estimate of Ksh100 billion as currency reforms unfold
Nairobi, Kenya – Kenya’s telecommunications giant, Safaricom, has raised its full-year capital expenditure in Ethiopia by Ksh7 billion ($54.3 million), revising its estimate to account for the birr’s ongoing depreciation against the dollar. The revised capex now stands between Ksh28 billion and Ksh31 billion ($217 million–$240.3 million), up from a previous range of Ksh21 billion to Ksh24 billion ($162.8 million–$184 million).
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