IFC to invest $157m in Global Partnership for Ethiopia.

IFC, an asset-management services provider, agreed to invest $157m in Global Partnership for Ethiopia, a telecommunications company. "IFC is delighted to announce its support to Safaricom Ethiopia, the first private sector-led telecoms operator in the country, and its parent company the Global Partnership for Ethiopia. Through this investment, we hope to help the company create a competitive market for mobile connectivity, reflecting our strategy to increase competition in the digital sector globally, and reduce costs for consumers. Young people, small businesses, and entrepreneurs will particularly benefit from improved access to high quality digital services such as mobile financial services," Mohamed Gouled, IFC Vice President.