Ethiopia news
Ethiopia’s Government Postpones Ethio Telecom Privatisation Process
Image sourced from FurtherAfrica. The government of Ethiopia has announced today that it will be postponing the ongoing privatisation process of the state-owned Ethio Telecom, and did not set a timeframe for when the process will continue. In an announcement posted to Twitter by the official account of the Ethiopian Ministry of Finance, the Ethiopian federal government says that due to “recent developments” and “fast-moving macroeconomic changes both globally and from a country perspective, the government of Ethiopia has decided to postpone the privatisation process” of Ethio Telecom. pic.twitter.com/rNLYAijWnX — Ministry of Finance – Ethiopia (@MoF_Ethiopia) March 18, 2022 “The government of Ethiopia believes that taking time to accommodate the improved macroeconomic situation as well as ...
Safaricom Pulls Staff Out of Ethiopia As War Nears the Capital City
Demonstrators take part in a rally in Addis Ababa, Ethiopia, on November 7, 2021, in support of the national defense forces. Image sourced from Eduardo Soteras, AFP via Business Daily Africa. East Africa’s leading telecom company Safaricom has reportedly evacuated some of its employees from Ethiopia, fearing disruption to its operations due to the ongoing armed conflict and civil unrest in the horn of Africa country. The firm evacuated employees from the country on Wednesday and Friday. Safaricom is part of a larger consortium that is aiming to start operations in Ethiopia sometime next year, after months of negotations with the Ethiopian government. The Safaricom consortium was awarded an operating license in the country by the government for an initial period of 15 years. A number of nat...
Safaricom’s Plans in Ethiopia Hit Snag Due to Possible US Payment Ban
Image sourced from Techweez Safaricom’s plans to expand into Ethiopia have hit a complication as a US State financier is threatening to recall its loans to a Safaricom-led consortium following an escalation of armed conflict in the horn of Africa. The US International Development Finance Corporation (DFC) says that acts of violence against civilians in Ethiopia’s Tigray region could affect the release of $500-million in loans to the consortium. If the conflict deepens, it could push the DFC to forgo the investments altogether and pressure the telecoms in the consortium to seek finances from elsewhere. War in Tigray DFC’s financing of the consortium had previously been thrown into doubt over US economic sanctions against Ethiopia related to the ongoing conflict in Tigray, which has killed t...
Facebook Removes Fake Profiles Attacking Opposition Parties Ahead of Ethiopian Elections
Image sourced from Politico. /* custom css */ .tdi_4_c20.td-a-rec-img{ text-align: left; }.tdi_4_c20.td-a-rec-img img{ margin: 0 auto 0 0; } Social media mega-corp Facebook said on Wednesday that it had removed a network of fake accounts in Ethiopia targeting domestic users ahead of general elections next week in the country. The company said that the network was found to be linked with Ethiopia’s Information Network Security Agency (INSA). Posting mostly in Amharic about news and current events, including information about Prime Minister Abiy Ahmed and his Prosperity Party, the network of fake accounts was also posting critical commentary about opposition politicians and groups including the Oromo Liberation Front, Ethiopian Democratic Party and the Tigray People’s Liberation Front, among...
Ethiopian Government Selling a 40% Stake in Ethio Telecom
Image sourced from Africanews. The Ethiopian government has announced a new tender process to begin the sale of a 40% stake in the state-owned telecommunications company, Ethio Telecom. The sale is still in its very early stages with the selection of a successful bidder expected only at the end of a significantly lengthy process. According to reports, the government plans to retain a 55% stake in the operator while the remaining 5% will be offered to domestic investors through an initial public offering. This new proposed sale of a large minority stake in the telecom comes as part of the Ethiopian government’s plan to liberalise the country’s monopoly in its telecom sector. Another key piece of the plan is for two foreign carriers to be granted licenses to operate in the vast, nearly-untap...
Safaricom Eyes an Opportunity to Expand into Ethiopia
Sourced from CGTN. Safaricom PLC is planning to extend its reach into Ethiopia, Kenya’s northern neighbour. Although not initially successful with its first few attempts, new changes within the Ethiopian government may prove beneficial for the mobile carrier to finally establish a presence within the country. Last month, the Ethiopian government said that it would be impossible for Safaricom’s M-PESA service to have any space in the market. The Ethiopian central bank about reiterated that no foreign financial institutions would be allowed to offer mobile money services in the country. Now, the good news for Safaricom is that the company was recently offered a window to buy into Ethio Telecom, the country’s mass-monopoly provider whose privatisation process is currently underway. This is on...
