Safaricom Ethiopia to Build Data Centre in ICT Park


Safaricom Ethiopia to Build Data Centre in ICT Park

Safaricom Ethiopia Plc has inked a sub-lease agreement with the Industrial Parks Development Corporation (IPDC) for the construction of a new data centre in Addis Abeba's ICT Park. Projected to cost 60 million dollars, the data centre will be the telecom operator's second in the country. Safaricom set up a data centre in the capital's Akaki-Qality District at a cost of 100 million dollars earlier this year. The company, led by Chief Executive Officer (CEO) Anwar Soussa, launched a large-scale pilot of its network in Dire Dawa town last month. It has since expanded the pilot to the Oromia and Harari regional states. Executives of Safaricom Ethiopia plan to widen the network coverage to 25 cities across the country by April 2023. Last week, the International Finance Corporation (IFC), an arm of the World Bank Group, announced plans to acquire shares valued at 160 million dollars in Safaricom Ethiopia Plc.  The acquisition would make the IFC the third-largest shareholder in Safaricom Ethiopia, following Kenya's Safaricom and the Japanese Sumitomo Corporation. Vodacom Group and British International Investment (formerly CDC Group) also hold shares in the venture.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...