Ethio telecom Thwarts Cyber Attack Attempts 

Dec 12 , 2020


Ethio telecom, the country’s sole telecom operator, has reported nearly 40 billion cyberattack attempts on its system over the course of 14 days. The cyberattacks, which were recorded between November 25 and December 7 with an average of 2.8 billion daily instances, were targeted at government and educational systems and sites. Broadcasting media and finance systems and sites were also targeted for infiltration, according to the company's reports. The attacks included attempts to gain unauthorised access and distributed denial-of-service (DDOS) attacks. The latter aims to disrupt the normal functioning of a server by overwhelming it with a flood of internet traffic. The company also reported that limited local mobile service in Meqelle, capital of Tigray Regional State, was established by illegal entities a few days following the breakout of armed conflict in the area. Following months of escalating tensions between the federal government and the former administration of the Regional State, armed conflict broke out on November 4, 2020. Alamata Wereda, in the southernmost tip of the region, has had telecom services fully restored, with six other towns such as Dansha and Humera receiving partial restoration.


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