Ethio telecom Settles 148m Debt in First Half

Jan 18 , 2020

Ethio telecom, the state telecom giant, settled 148.2 million dollars in debt in the first half of this fiscal year. The value is 41pc of the 362 million dollars debts the company paid last year, much of the debt was accumulated over the previous three years. The loan was invested in the expansion of the Next Generation Network and Telecom Expansion Project. For the projects, the company received 2.3 billion dollars of the total three-billion-dollar loan approved by the Chinese government. So far, the company paid 1.3 billion dollars of it, and the remaining one billion dollars is expected to be paid back in the next nine years. In the reported period, the company generated total revenue of 22.4 billion Br, achieving 104pc of the target. The company bagged 16.7 billion Br last year during the same period. During the reported period, Ethio telecom had 45.6 million subscribers, a 10.9pc increase from the same period in the previous year, according to Frehiwot Tamiru, CEO of the company, who gave a press briefing on January 15, 2020.



Hamere Berhan' at the old post office prints books using ancient paper made from animal skin called 'Birana'.  It is part of the Ethiopian Orthodox Tewahdo Church which has had scribes for close to two millennia. The shortage of paper is evident with close to 10 companies operating in the paper conversion industry and a single paper mill in the country. Local players have seen their market share drop over the years and are looking to regain it. ...



A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man-made climate change has gained steam over the last few years. African countries have shifted gears in trying to unlock climate financing from the global north. With debt-to-GDP ratios averaging around 62pc continent-wide, many countries are utilizing the climate narrative to get debt structuring. This was one of the appeals of the Prime Minister of Ethiopia when he addressed the AU summit...



The area around Ambassador, famous for its souvenir shops, is getting demolished for real estate development. The Addis Abeba City Administration has ramped up efforts to remodel the city's architecture over the last few months. The capital was established by Emperor Menelik 137 years ago. He also introduced the first telephone, car, hotel, and hospital to the country. A construction project headed by the mega projects office to commemorate his victory over the Italians at Adwa is 70pc complete...