BREAKING NEWS

    The Safaricom Telecommunications Ethiopia consortium obtained a License to commence operations in Ethiopia

    Posted On 21 Jul 2021
    By :
    Comments: 12

    By Abdul Rahman Bangura–

    Photo Credit: AppsAfrica

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The Ethiopian Communications Authority (ECA) has expressed that, the Global Partnership for Ethiopia has integrated and registered its local company – Safaricom Telecommunications Ethiopia. This whistles that the corporation will maintain the label
    Safaricom in the over 100 million in population market, steered by Anwar Soussa as the Managing Director as announced earlier July of 2021.

    The Safaricom-led consortium earned a designate license in May 2021 after achieving the bid and was given forty five days to register a local firm before getting the 15-year renewable operator license.

    “The ECA has granted a nationwide full-service Unified Telecommunications Service License to the Safaricom Telecommunications Ethiopia Plc practical from July 9th, 2021, valid for a term of fifteen years from the effective date, and renewable for additional terms of fifteen years liable to gratification of all license obligations,” ECA
    asserted in a message.

    Apparently, Ethiopia’s award of a new telecoms license, enables the direction to unlock the market to international investors for the first time in the country, guaranteeing economic development and growth. Safaricom possesses a bulk amount in the consortium, with other partners including British development finance agency CDC Group and Japan’s Sumitomo Corporation.

    The consortium earned the license with a bid of $850 million and strives to commence undertakings in Ethiopia in 2022. The proposals to broaden to Ethiopia have nevertheless been confounded by a US State financier compelling to remember its loans pursuing escalation of armed conflict in the horn of Africa nation. The US International Development Finance Corporation (DFC) announces that, the actions of unrest against civilians in Ethiopia’s Tigray region could cause the release of $500 million loan.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    1. Makena July 21, 2021 at 2:37 am Reply

      Business of telecommunication is one of the fastest growing sector in Africa. Thanks to our young and computer smart population. Makena in Nairobi Kenya

    2. Jackie July 21, 2021 at 2:41 am Reply

      Communication companies are coming. Competition would determine the market price. Lusaka in Zambia. Jackie

    3. David July 21, 2021 at 2:45 am Reply

      If business is what you like to do in our great Continent of Africa. Come invest. Kampala in Uganda. David

    4. Lisa July 21, 2021 at 2:49 am Reply

      Thank to our Countries that are passing great laws in Africa. Johannesburg SOUTH AFRICA. Lisa

    5. Randy July 21, 2021 at 2:53 am Reply

      Love your online newspaper and happy to read your million readers milestone. Great achievement. Gaborone in Botswana. Randy

    6. Felix July 21, 2021 at 2:55 am Reply

      Thank you for the daily newsletters. Felix in Paris, France

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