State-owned Telecom Partners with Samsung

Mar 18 , 2023


Ethio telecom, the state-owned telecommunications provider, has teamed up with Samsung Electronics Company to launch an initiative aimed at boosting smartphone usage among its customers. This comes amid widespread internet restrictions that have left millions of Ethiopians without access to popular social media platforms such as Telegram, YouTube, Facebook, and TikTok. Ethiopia trails Ghana in providing the cheapest internet packages in Africa and has 15.3 Mbps download speed which is 61pc higher than the 9.5 Mbps sub-Saharan Africa average. Seid Aragaw, chief marketing officer at the telecom, expressed his hope during a recent ceremony held at the Ethiotelecom Premium Center on Churchill Street, that the initiative would help to increase the number of smartphone users, which currently stands at 46pc. The company offers its customers three new models from Samsung's flagship S series - the S23, S23+, and S23 Ultra, priced at 95,000 Br, 105,000 Br, and 140,000 Br, respectively. Charles Kimari, the Internet & Mobile Experience Director for Samsung Electronics East Africa, noted that smartphones are intended to cater to customers with varying budgets and lifestyles. According to him, the S23 series is designed to provide better features and functionality to customers who are increasingly reliant on smartphones.


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