Authority Extends Deadline for Second Private Teleco Application

Sep 18 , 2023

The deadline to provide a Request for Qualification (RFQ) for the second private telecom service is once again extended by a month after the Ethiopian Communications Authority (ECA) put forth the notice nearly three months ago. While the instructions for the requests will remain unchanged, an extension of the deadline is expected to provide investors additional time to prepare comprehensive submissions, according to officials. They believe the initiative is one of the efforts to transition the telecom sector into a competitive market structure and strengthen private sector growth. Challenging the 128-year monopoly of state-owned telecom service, Safaricom is the first private telecom operator in Ethiopia after getting the first international telecom license with 850 million dollars. Having launched its telecom services in 2022, it has garnered over five million subscribers as it nears its first-year mark since launching. Over two months ago, Safaricom launched  M-pesa, a mobile money service. The service has over 50 million customers across seven countries while recording over 314 billion dollars worth of transactions a year.


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...