Financial Institutions to Lease Data Centres from State Telco

May 21 , 2022

Four financial institutions have signed a memorandum of understanding with the state-owned Ethio telecom to lease space at its data centre in the Gola area of Addis Abeba. Zemen Bank, the fully-fledged interest-free ZamZam and Hijra banks, and Rays Microfinance will rent space at the operator's tier-three data centre inaugurated last year. The facility can host up to 800 servers and was built at a cost of 3.5 million dollars. Earlier this year, Wingu.Africa signed lease agreements with five companies in the banking and ICT industries for space at its data centre in the Ethio ICT Park in the outskirts of the capital. Wingu.Africa is among four multinational ICT firms to set up in the Ethio ICT Park, dubbed the "Ethiopian Silicon Valley", after signing agreements with the Ethiopian Investment Commission in late 2020.