ADDIS ABABA -Ethiopia will reopen bidding for its second telecoms operator licence this month, two senior government officials said on Monday, including the right to operate mobile financial services.
The International Finance Corporation, the private sector arm of the World Bank, will serve as transaction adviser in the deal, said Brook Taye, a senior adviser at the ministry of finance. Safaricom's winning bid of US$850 million could serve as a guide for the price of the remaining licence. Mobile financial services have become a significant part of African telecom operators' businesses since Safaricom pioneered them with M-Pesa in 2007, giving people an alternative to banks.State monopoly Ethio Telecom, which launched a new mobile financial service called Telebirr in May, snagged 4 million users within weeks, showing the potential of the market.
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