Ethio telecom Continues 4G Expansion, to the East

Apr 10 , 2021


[ssba-buttons]

For the third time since the beginning of this year, Ethio telecom held an inauguration ceremony to kick off its 4G LTE Advanced network. This time, to the east of the country. The latest is the launching of the service in seven towns in Somali Regional State last week, including Jigjiga, the Somali Regional State seat. The project involved installing and commissioning 56 LTE sites, carried out in collaboration with Huawei Technologies. Earlier, the state telecom monopoly with 49 million subscribers inaugurated network expansion projects in the Oromia and Amhara regional states. Over the first half of the current fiscal year, Ethio telecom's revenues rose by 12.3pc to 25.6 billion Br, and the company generated 80.2 million dollars in foreign currency.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...