In 2019, the government of Ethiopia initiated an economic reform program. It makes the opening of the capital of several public companies, in particular Ethio Telecom, a condition of its success. In an interview with the Ethiopian News Agency on Wednesday February 17, 2021, Biruk Taye, senior adviser to Ethiopia’s finance minister, announced the partial privatization of Ethio...
The move will be a key foundation stone in the digitalisation efforts of the entire East Africa region Ethio Telecom has announced that it has dramatically boosted the availability of 4G/LTE network services in Ethiopia, in a move that will see the company extend LTE services to regions outside of the capital, Addis Ababa. Ethio...
Ethio Telecom has hired KPMG East Africa to evaluate its entire business and this is expected to take eight weeks, Addis Fortune reported. It hired KPMG through a single sourcing procurement method via negotiations. This is an extension of the project that KPMG was awarded in 2020 to do an asset valuation under International Financial...
Proceeds from the partial privatization of Ethio-Telcom will be deposited in the Industrial Development Fund account opened by the Ministry of Finance (MoF), The Reporter has learnt. While the allocation modalities of the fund will be decided based on a directive by the Ministry, it is expected to be used to develop existing and new industrial enterprises...
The Council of Ministers amends the establishment of Ethio Telecom establishment regulation to boost the telecom giant’s operation besides its traditional telecom service.Sources close to the case told Capital that the regulation amendment mainly targets to allow the state telecom operator to invest in the financial sector.Currently, the government is in the process to partly...
Ministry of Finance revealed today that it will issue invitation for bid to international telecom companies to award two bidders that take over 40 percent stakes of Ethio Telecom in October 2020. The ministry held a consultative meeting today with private, financial and IT sectors to get their feedback on the privatization process, particularly in the...
The national telecom company, Ethio Telecom, has projected to generate a total revenue of 55.5 billion birr in the 2020-2021 budget year. Ethio Telecom’s management has unveiled a revised three year growth strategy and business plan for the 2020-2021 fiscal year. Briefing reporters on the business strategy on Wednesday at Hyatt Regency Hotel Frehiwot Tamru,...
Telecom has developed a three-year growth strategy for the three year period 1 July 2020 to 30 June 2023, and a business plan for the year 2020/21, the first year of the period for which it has devised a growth strategy. To ensure competitiveness and sustainable growth of the company, the strategy has been developed...
Bracing itself to remain competitive after the liberalisation of the telecom sector, Ethio telecom has split its network infrastructure department into five divisions for service efficiency. The country’s sole telecom operator is also hoping to lease its infrastructure to the two operators that are expected to join the industry next year. It plans to generate...
Last week the Ethiopian telecoms operator, Ethio Telecom, introduced a new range of services aimed at limiting the movement of people outside of their homes and decreasing the spread of the coronavirus (COVID-19). Firehiwot Tamiru, the Chief Executive Officer of Ethio Telecom, said that the company had availed three new offerings, namely, the ‘Stay at...
