Safaricom's share rally to new high after winning the Ethiopian tender
by VICTOR AMADALA
Image: SAFARICOM PLC
•The telco has won a tender license to operate in Ethiopia.
•A top manager in the mobile money department said the firm was looking forward to entering the new market.
Safaricom's share price hit a historical high of 42.75 before settling at Sh42.35 after the telco's linked consortium won a tender to operate in Ethiopia last week.
The firm's share price closed at the Nairobi Securities Exchange (NSE) closed at Sh42 on Friday after a week of limited activities after the lender reported a 6.8 per cent drop in net earnings for the period ended March 31.