Nairobi, May 22 -- The International Finance Corporation (IFC) will get under 10 percent stake in Safaricom Ethiopia on its planned $257 million (Sh35.3 billion) cash injection that has been split between debt and equity.

Splitting the amount between debt and equity will see Safaricom, which is the top shareholder in the Ethiopian unit with a 55.7 percent stake, retain a controlling stake.

Safaricom chief finance officer Dilip Pal said IFC equity investment will be capped at $157 million (Sh21.6 billion) while the remaining $100 million (Sh13.7 billion) will be injected in as debt.

"With IFC coming in, all the consortium members will be diluted in terms of our equity investment but we will continue to hold the majority shareholding. On...