An infrastructure pole around Bole is being moved on a busy afternoon. The first telephone infrastructure was extended from Harar to the capital city in 1894, during the reign of Emperor Menelik II. The state-owned Ethiopian Telecom has made significant headway since its reestablishment six years ago by cutting tariffs, expanding coverage, and entering new business avenues. The 130-year-old enterprise will avail a 10pc ownership stake as Ethiopia launches its inaugural stock exchange next year. It had revenues of 42.9 billion Br in the first half of the current year. The telecom operator which had a monopoly on telecom services for all but the last two years is the first of at least four SOEs poised to open themselves up to private ownership.