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.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...