Communications Authority Suspends Bid for Second Telecom License

Dec 25 , 2021


The Ethiopian Communications Authority has suspended the bidding process for the second private telecom operator's license. Last September, the Authority had issued a Request for Proposals (RFP) from prospective investors interested in acquiring the license, dubbed "License B," with the deadline set for last week. Its officials had also stated they expected to issue the license by January 2022. The tender for the first operator's license saw two bidders, MTN and the Safaricom-led consortium, though officials had hoped more investors would show interest. Safaricom won the 15-year license after offering 850 million dollars. The other bidder failed to obtain a license as its 600 million dollar offer was deemed inadequate by the authorities. Safaricom Ethiopia is finalising preparations to begin operations in early 2022.


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