CANAL+ Continues Expanding in Ethiopia

May 2 , 2020


CANAL+ Group, a French audiovisual media company and pay-TV operator, has expanded its services in Ethiopia by signing three more agreements with local media companies. The company has signed new agreements with Addis Media Network, a news channel broadcaster, Bisrat Radio, a sports and entertainment radio station and Ethio FM 107.8, a generalist radio station. The company, with more than 20 million subscribers worldwide, will be able to bring its content to future subscribers in Ethiopia. CANAL+ had previously signed agreements with EBC, FANA channels and Nolawi Film Production and the Ethiopian Film Producers Association. The company has a strong presence in regions with high growth potential in Asia and particularly in Africa, where it has 4.9 million subscribers. The company is owned by Vivendi, a global content and media group.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email