The Ethiopian Telecommunication Authority (ECA) has turned down roughly $500 million after the government decided to exclude mobile money from the terms of two new telecommunications licences. “This decision has cost us a high price,” says Abiy Ahmed, Prime Minister of Ethiopia. “When it was decided to open up the telecoms market about two years ago, one of the key areas of contention was the issue of mobile money. This decision is expected to give the country time to develop its own mobile-money platform. Bloomberg Intelligence analyst, John Davies says “Though Ethiopian mobile penetration lags behind peers, investment and lowered prices should lead to strong growth in take-up of mobile services. The value to international investors depends on agreements with the government and how i...
