AfDB, Ethiopia, sign US$118m grant agreements to support agro-industrial park, youth employment and Ethiopia-Djibouti power interconnection

ETHIOPIA – The African Development Bank Group (AfDB) and the Government of Ethiopia have signed two separate grant agreements for new projects to boost youth employment and electricity trade between Ethiopia and Djibouti. The grants fall under the Bank Group’s concessional lending window, the African Development Fund, and will go towards the Productivity Enhancement to Support Agro-Industrial Parks and Youth Employment Project worth US$47 million, and the US$71 million Ethiopia-Djibouti Second Power Interconnection Project, which aims to boost electricity trade between Ethiopia and neighboring Djibouti. The industrial parks and youth…

Read More

Orange expresses interest for stake in Ethio Telecom

ETHIOPIA – French multinational telecommunications company Orange has submitted an expression of interest to participate in the ongoing partial privatization of Ethiopia’s Ethio Telecom firm for an undisclosed value, Ethiopia’s ambassador to Paris has revealed. Henok Teferra Shawl said in a tweet Orange had “formally submitted an interest to participate in the partial privatization of @ethiotelecom.” In June 2021, Ethiopia launched a tendering process for the proposed sell-off of a 40% stake in the state-owned carrier Ethio Telecom to private investors, part of the government’s broader plan to open up the Horn…

Read More

Ride-hailing firm Little sets eyes on the Ethiopian market

ETHIOPIA – Kenyan ride-hailing firm Little is expanding to Addis Ababa, Ethiopia joining Safaricom and several other Kenyan firms in the race to crack the Ethiopian market that has so far remained closed to foreign companies. The firm’s  Chief Executive Officer Kamal Budhabhatti told Business Daily that the company will invest US$5 million in the next five years, with plans to inject an additional US$5 million based on its growth projections. The company, which competes with global players Uber and Taxify in Kenya, Uganda, Zambia, and Tanzania, will start Ethiopia…

Read More

Safaricom Telecommunications Ethiopia granted operator license

ETHIOPIA – The Ethiopian Communications Authority (ECA) has announced that Safaricom Telecommunications Ethiopia PLC has been issued with a final licence even as reports surface that over half of the winning consortium’s financing could be in doubt due to US sanctions. The ECA awarded the final licence “following the incorporation of the local company and business registration by the Global Partnership for Ethiopia” (GPE Consortium). The Safaricom-led consortium received a designated licence in May 2021 after winning the bid and was given 45 days to register a local company. “The…

Read More

Ethiopian Airlines, Liege Airport extend long-standing partnership

ETHIOPIA – Ethiopian Airlines Cargo and Logistics Services and Liege Airport have announced the renewal of their long-standing partnership agreement until 2026. Liege Airport, Belgium’s largest cargo airport and the 6th largest cargo airport in Europe, will continue to be Ethiopian Airlines cargo hub serving as a freighter gateway between Africa and Europe for the next five years. Ethiopian Airlines Cargo and Logistics Services, Africa’s largest cargo network operator, has been working with Liege airport for its freighter operations between Africa and Europe. Ethiopian Airlines Cargo and Logistics Services Acting…

Read More

African Development Fund backs Ethiopia-Djibouti electricity trade with US$83.6m in grants

DJIBOUTI – The Board of Directors of the African Development Bank Group (AfDB), has approved two grants worth US$83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a US$69.65 million grant to Ethiopia and the second grant of US$13.93 million to Djibouti, both sourced from the African Development Fund, the African Development Bank’s concessional financing window. The Ethiopia-Djibouti Second Power Interconnection project will entail the construction of nearly 300 km of interconnector line, 170…

Read More

Global Partnership for Ethiopia taps Vodacom DRC chief Anwar Soussa as Managing Director

ETHIOPIA – The Global Partnership for Ethiopia (GPE) has appointed Anwar Soussa as the Managing Director of the Operating Company in Ethiopia, effective July 1, 2021. He will report to the Board of the Ethiopia entity and Safaricom PLC Chief Executive Officer. Anwar is currently the Managing Director of Vodacom Democratic Republic of Congo (DRC) and the Chairperson of Vodacash (M-PESA), a position he has held since 2017. He has cemented Vodacom DRC as the largest Vodacom operation outside of South Africa by driving major strides in operational performance, crossing…

Read More

Ethio Telecom and Ericsson join hands to deploy 4G network in South West region of Ethiopia

ETHIOPIA – Telecommunication company Ethio Telecom has partnered with Ericsson to expand its 4G services into the South West region of Ethiopia. According to a press release from the Swedish multinational networking and telecommunications company, the Ethiopian service provider will use Ericsson Radio System products for this deployment of which the core expansion will be carried out in Ethio Telecom’s regional data centres and those in Addis Ababa. “We are excited to collaborate with Ericsson in expanding our 4G/LTE Advanced service. This will bring high-speed internet to the South West…

Read More

Ethiopia’s edtech startup Gebeya launches its revamped marketplace

ETHIOPIA – Gebeya, the Pan-African source for freelance professional talent, has expanded its revamped marketplace, the first of its kind in terms of reach in Africa.  Prior to investment, Gebeya operated mostly a manual non-scalable marketplace model.  The firm raised a US$2M seed investment in February 2020, co-led by Partech and Orange Ventures and followed by Consonance Investment Managers, to set up the machine for scale, fully automated and digitized.  Gebeya.com connects Start-ups and Small and Medium Enterprises to professional talents from across the continent and the platform offers a…

Read More

Ethiopia moves to sell 40% stake in Ethio Telecom

ETHIOPIA – The government of Ethiopia has launched a tendering process for the proposed sell-off of a 40% stake in state-owned telco Ethio Telecom to private investors, part of its broader plan to open up the economy. Interested investors can now submit expressions of interest (EOIs), the first of a series of stages that will lead to picking of a successful bidder, Zinabu Yirga, Deputy Director of Public Enterprises Holding, and Administration Agency told a press conference in the capital, Addis Ababa. “The government wants state-owned enterprises to be competitive and…

Read More